Britain’s biggest banks considering introducing carers cards in attempt to stop cashpoint fraud.
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Britain’s biggest banks are considering introducing carers cards in attempt to stop cashpoint fraud, the Telegraph has learned. It comes after a cancer patient had £16k withdrawn from his bank account over the course two months before his death.
The man’s bank, Santander, is now considering introducing new products to give carers controlled access to the finances of the person they are looking after.
This could take the form of carers cards, which limit cash withdrawals and restrict certain types of spending. Barclays and HSBC are the only other banks which currently offers such facilities.
Action on Elder Abuse, a helpline for victims, said withdrawing money in cash is now the “easy option” for fraudsters looking to steal large sums of money over a long period.
This is because unlike with credit card fraud, where banks now use sophisticated prevention technology to spot suspicious activity, unauthorised cashpoint withdrawals often go undetected. >
Had to smile.
In whose REAL interests is this idea … the customers … or , to save the bank’s potentially losing thousands through introducing
cost saving schemes at the risk to many vulnerable customers ?
The cynic in me also says … some carers out there will be saying … " Whoopie ! An unexpected windfall ! "
Unfortunately , the cynic is often right.
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High street banking … my home for 20 years prior to becoming a carer.
Technological changes since I left … not quite an abacus to a computer but close … how we all benefit with virtual control
of our finances.
Trouble is , in Captain Mainwaring’s day … BEFORE mine … staff / mamngers KNEW their regular customers , and could spot
even a slight irregularlity.
Today … and no thanks to the same technological changes … a whole new ball game … now complete with cyber / phone
scammers galore !!!
As for the customer , think again … a potential money making machine in human form … nothing more , nothing less !