We’ve reported before that fraudsters are able to keep on spending your money even if you replace your card thanks to a little-known feature of debit and credit cards. So we’ve investigated to find out if the banking industry is making it harder for scammers.
In this episode of Which? Money, our scams and fraud expert Faye Lipson explains what an automatic billing updater is, how handy it is when our cards expire, but also how it aids financial criminals to maintain access to our money once they’ve already scammed us.
Faye tells us how she investigated nine banking brands and card providers to find out what processes they have in place to protect our money from scammers, detailing any inadequacies she saw during her research.
Plus, she shares her expert advice on what to do if your card details have been compromised to ensure you get all your money back.
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