Fraud security question

[Evansgaz (Gareth Evans)]

Hi,

Wonder if anyone can answer this. I love Monzo and I’m not particularly worried about security with it. However if someone was to steal my phone and get passed my passcode, what’s to stop them (I guess they’d need to know about Monzo), opening the app, setting themself up as a friend on my phone and transferring everything from my account to theirs?

It’s pretty unlikely I know but just thought that it could be a loophole.

Thanks

[Rika (Scarlet)]

This probably doesn’t answer the full question but today, transferring money requires either Touch ID on capable devices running iOS (if set up within Monzo) or the card PIN.

There are some further plans around large first time payments to new recipients when the current account is introduced but I’ll let the security and fincrime people talk about that when they’re ready to fully reveal it.

[HoddzDJ]

@RichardR

There are some further plans around large first time payments to new recipients when the current account is introduced but I’ll let the security and fincrime people talk about that when they’re ready to fully reveal it.

#SneakPeek

[Evansgaz (Gareth Evans)]

This is great info thanks, I assumed it would have been thought of but good to know it has!