Fraudsters used terrifying new ‘sim swapping’ scam to steal £3.5k from TSB customer – and bank failed to help
Rupert Jones from Essex, watched his account on the app as thieves transferred all his money in chunks of £500 to £1,000
TSB customer claims he was left without any access to cash for two weeks after scammers hacked his account, changed his password and stole £3,500.
Rupert Jones - not his real name - from Essex, was left with just 66p in his current account and even watched the criminals drain the money from his account via TSB's mobile app.
Scammers have been targeting TSB customers amid chaos caused by a botched IT upgrade which left 1.9million customers unable to access their online banking.
Rupert, 56, has rheumatoid arthritis and says he spent more than six hours on the phone to TSB trying to resolve the issue but still doesn’t know whether he will get his cash back - or when he’ll have access to this account.
He became aware of problems with his account when his mobile firm alerted him that his password had been changed.
The hackers used a type of fraud called “sim swapping” where they convince your mobile firm to activate a new sim card giving fraudsters control of your mobile number.
The crooks are then able to reset your mobile banking passwords and transfer money out of your account.
Rupert watched as scammers transferred money out of his TSB account to two other accounts in chunks of £500 to £1,000 at a time.
Rupert said: "I was panicking. I immediately called the TSB phone number on the back of my card to tell them to lock it but I was put in a queue.”
More than 40 minutes later he finally got through to an operator, only to then wait for another two hours to speak to the fraud department.
Rupert added: "It's been two weeks now and I've still not heard anything.
What is a 'sim swap' and how do scammers use it to steal your money?
ALTHOUGH he didn't know it at the time, Rupert was actually a victim of a "sim swap
This is a technique used by fraudsters to gain access to your phone.
This is because most banks use two-step authentication when you want to transfer money to a new payee.
Often your bank will text you a unique four digit code that you need to complete the transaction.
Fraudsters who already have your bank details call your phone network provider and prentend to be you, asking to swap the phone number to a new SIM card that is owned by scammers.
This technique allows fraudsters to intercept messages that are sent to your phone.
They can then set up a new payee and send the funds to where they want them.
“They’ve obviously got a huge backlog of fraud cases – it makes you wonder how many people are affected."
"But the stress has been terrible. Everything’s swollen up and it's really affected my health.
"My account is still locked and I can't get in it.
“Luckily I get paid weekly, so that meant I have had some money coming into my account.
How to protect yourself from sim swap fraud
HERE'S how you can protect yourself from sim swap fraud:
- If you stop receiving texts and calls and you're not sure why, contact your network operator immediately
- Do not give away you internet banking passwords or PIN to anyone becaue your bank will never ask you for this
- Don't use the same password for more than one thing
- Don't publish the answers to your memorable questions on social media because scammers can find them and use them
- If you're worried that your details might be compromised, contact your bank.
“The direct debits are still going in and out of it so I've not missed any bills but that's not the point.
"I just want to know what's going on."
Rupert even wrote to TSB's CEO Paul Pester but only received an automated response back.
While the problem rumbles on he is having to rely on his wife for money.
A spokesperson for TSB would not disclose how many cases of fraud are currently being reported, but did say they are "working around the clock" to address these issues.
They said: "We’re really sorry for the experience Mr Jones has had and the inconvenience this has caused. Our team is getting in touch to help resolve his issue."
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Rupert has still not been in touch with anyone from TSB at the time this article was published.
TSB said it would waive overdraft fees last month and offer a five per cent raise in its savings rate, but is still being vague about whether customers will receive compensation.
Some customers have managed to get a payout, but one customer only got £40 to cover a late payment on a credit card.
TSB meltdown: what are your rights?
IF you’re one of the potentially millions of customers affected by TSB’s online banking problems then here are your rights.
- Will your expenses be covered? If you suffer knock-on costs then the bank has confirmed it will reimburse you. Make a note of dates, keep receipts and a log of how much you've been left out of pocket.
- What are the alternatives? Visit a branch or try telephone banking if you urgently need to access cash.
- Is it a data breach? The bank has denied that there has been a data breach but we've asked for more information on this and will update asap. Don't spend money in your account that isn't yours as you will be liable to pay it back.
- How to complain about your bank? Firstly, complain to TSB. If the problem is not resolved to your satisfaction after 8 weeks then you can complain to the Financial Ombudsman Service
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