Monzo called asking me to move my money into a safe account. Should I?

Authorised push payment fraud is rising, and we’ve been talking lots about it recently.

In the last few days we’ve seen more customers telling us that people have called them claiming to work at Monzo, trying to trick them into sending their money to a ‘safe account’ or disclosing other sensitive information.

So we’ve put together another post to try and increase awareness of what’s happening and what people can do to protect themselves.

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I hear of all sorts of scams like this including those that call and claim your computer is infected and so on. I’ve still never had one.

Am I just lucky?

I’m very tech savvy so is it a case that I can generally tell when something is a scam? For example all those people that sign up and share stupid fake promotions on Facebook and so on. I’m very cautious so it’s limited how much of my data is out there and available to these scammers. (excluding breaches obviously)

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:point_up: same here.

But I stay clear of Facebook as much as I can and receive nowhere near as much spam/phishing/rubbish as friends who spend most of their life on FB/Insta/Snap, etc. Your basic data is being sold to parties you don’t know about and can’t challenge. But they’ll try & have a go at you, there is no doubt about it. Be careful out there folks!

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This post was flagged by the community and is temporarily hidden.

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If the bank can point to you being grossly negligent then they don’t have to pay.

Plus the more people that do, the more it will encourage the fraud in the first place.

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Would it not be sensible to update the warning in the app to say Monzo won’t call you and ask you to transfer money to another account…?

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The problem with some of these scams is people don’t actually realise they’re being conned. Although you’re own bank telling you to move your money to a safe place is a fairly obvious one or at least to me.

After all your money is already with the bank and they already have controls on your account, and it’s not physical money, so why would you be asked to move it.

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This is great to know, but blog exposure for something so important doesn’t seem adequate. How about a payment feed notification so that every single user is aware of this? Unlike email, it’s far less likely to be questioned or ignored.

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I don’t get any pretending to be from “banks”, but I do get them pretending to be from “HM Revenue and Customs” saying there’s a warrant for my arrest due to tax fraud or something unless I press 1 to speak to someone :rofl: .

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God no :scream:

Things like this are useless to me. I’m already aware and know of all the signs so a series of notifications for articles would annoy me. The app feed should be predominantly transactions, not a blog feed.

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This post was flagged by the community and is temporarily hidden.

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Same could be said the other way round. You don’t have data to claim that “everyone else would gain from this”. :slight_smile:

You seem to have got very, very defensive all of a sudden :confused: Would a compromise not be a toggle to opt in? That way everyone is happy and it compiles with GDPR so you’d be giving consent to receive it.

The reason I said it, is that isn’t deemed “regular banking activity” like you’d expect to see in your feed :sunglasses:

Edit Thank you for editing your post :slight_smile:

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Every other bank I have been with have a messaging system where I get notified of things. Like scheduled maintenance, known security issues, etc. I needed to acknowledge these to access my account online.

Yes, it was not an amazing system. But hey I knew of issues. I am not recommending implementing this for Monzo, but adding a notification item in the feed like other news would be nice. It can be cleared once you’ve seen it, like everything else. It’s really not that much trouble to clear and forget if you are aware of scams and such.

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I’m not sure how you come to your conclusions; I’m not being defensive, but just pointing out the obvious - you would prefer a “clean” feed rather than help ensure Monzo users who may not be as money savvy as yourself. That is selfish by definition: “concerned chiefly with one’s own personal profit or pleasure”.

Do you agree that Monzo is customer-centric, or at least should strive to be?
Do you agree that part of customer centricity is alerting users of active scams in a timely manner e.g. Ticketmaster database breach?

If you answer “yes” to the above, then why are you saying Monzo should not use the most timely, direct way to alert users of active fraud scams?

Regardless of whether the user is or is not aware of fraud, and regardless of the method of communicating the scam, for users the worst outcome is minor annoyance, the best outcome is someone avoiding being scammed. The trade-off seems clear for a customer-centric bank.

Yeah that’s a good idea too.

Just a separate section for news notifications. Just as long as it’s not in with important transactions :slight_smile: I’d hate to miss a failed direct debit notice because a series of blog posts have been written!

I would say it be important stuff, not every blog post. :smiley: “Your money is at risk”, important. “We are going skiing as a team!”, not so much. XD

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I don’t want to argue but your post is flagged. It came across to me as aggressive so assume others felt the same way too. Especially your last paragraph that was a personal attack.

It’s fine to disagree and I love discussing and debating but your post didn’t appear to want to do that.

Edit Thank you for editing your post :slight_smile:

Pointing out a contradictory attitude is certainly not aggressive :confused: And with the same logic, the post likes, so other members agree with it…Plus, my post directly asked you questions, so you can’t claim there wasn’t room for discussion. Also, unhidden :slight_smile: I await your reply

The only thing I’d say about notification-gate is that these sort of scams are happening every day. Push payment fraud - as the blog post suggests is one of the fastest growing types of fraud. Whenever I get an email from my legacy bank it says the same as the blog post - yet its clear that people are still falling victim to such scams.

Bearing in mind it is an ever pervasive thing - getting continually notified about it would be annoying and if I’m being honest, not something that is Monzo’s fault - if they address the issue generally, isn’t it then down to the customer to be informed and protect their interests?

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I think when there’s a spike in it, then it makes sense to do it. You wouldn’t want someone to always tell you to lock your doors everytime you leave the house, but if there’s an increase in burglaries in the area, it may not be a bad thing :thinking:

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