UK Banks Use Robo Callers To Check Fraud.Right.

There is news story that the Banks in UK are now using Robo Callers to chck the personal information of its customers,on fraudlent transactions.

Acolumn in the Guardian is bitching about this, as this is a nuisance  and this is making the customer to divulge his personal details.

When you take a laon, you have to divlge your details and the Lender has a right to protect his money .

And it is also in your interst that your transactions are veirified.

In some instanses the establishments where you purchase the staff have ways of hacking your account and make merry with your card.

There is no point in complaining about the measures the Banks are undertaking.
If you want to be free, Never Borrow!

"My latest Guardian column, "Automated calls, fraud and the banks: a mismatch made in hell," reacts to the news that UK banks are using robo-call machines to check in with customers on possibly fraudulent transactions, and going about it in the worst way possible:....

The banks, bless them, are only trying to prevent fraud, but this is a pretty silly way of going about it. For starters, there's the business of calling up people and asking them to give you all the information necessary to prove that they are indeed a bank customer – all the information that a fraudster needs to impersonate that person at the bank, in other words. The banks have spent decades systematically conditioning us to give our personal information to fraudsters, which is a strange way to prevent fraud.

But at least this silliness had one saving grace: a fraudster can only make so many calls per day, and so the scope of losses from such a programme of bad security education is limited by the human frailties of con-artists.

Enter the robo-caller. The banks are now outsourcing their fraud prevention to computers that can make dozens of calls all at once, around the clock, fishing (or phishing) for someone who just happened to have made an unusual purchase and is thus willing to spill all his details down the phone to get it approved. Note that most of the categories of purchase that trigger false positives from fraud detection systems are also the sort of thing that customers are anxious to see go off without a hitch. The unusual and the urgent often travel together.

http://boingboing.net/2012/09/27/uk-banks-use-robo-callers-to-m.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+boingboing%2FiBag+%28Boing+Boing%29