Why banks won't refund you for payments made while held by kidnappers

[Hanno Labuschagne]

Why banks won't refund you for payments made while held by kidnappers

Experienced consumer journalist Wendy Knowler has highlighted a problem in how banks deal with refunds in cases where customers were kidnapped and forced to make certain payments.

Contactless payments and anti-fraud measures, such as biometric verification, have made it more difficult for criminals to transact on their victims' bank accounts without the victim's presence.

 

[ld13]

Dear Banks,

I need a secondary login that is 100% legit except for my balance, showing max R2K

Edit: Even willing to accept liability and sign an instruction that the bank must take instruction on that account, no matter what.

 

[Grieta Thanburg]

Dear Banks,

I need a secondary login that is 100% legit except for my balance, showing max R2K

A very low randomized amount might not be a bad idea.

 

[JayM]

Dear Banks,

I need a secondary login that is 100% legit except for my balance, showing max R2K

Just get a basic account with another bank and keep 2k in there.

 

[quovadis]

Duress pins and duress passwords. Set balance to a random amount under 10k and notify family members/bank security/antifraud.

 

[ld13]

Just get a basic account with another bank and keep 2k in there.

Will not work as it would clearly be a throwaway account. Needs to be legit and show recent transactions, legit ones at that. It is the only way.

They will also see the FNB/ABSA etc app and force you to open them one by one. Need buyin from all the banks.

Remaining balance can be random yes @quovadis, but a random amount for your specific account, else it would be detectable.

 

[3WA]

As a small consolation, you should be allowed to moer the person whose details were used to RICA the account that the criminals transfer to.

 

[quovadis]

Remaining balance can be random yes @quovadis, but a random amount for your specific account, else it would be detectable.

That’s the point - a balance which is low and unpredictable.

 

[Speedster]

Will not work as it would clearly be a throwaway account. Needs to be legit and show recent transactions, legit ones at that. It is the only way.

They will also see the FNB/ABSA etc app and force you to open them one by one. Need buyin from all the banks.

Remaining balance can be random yes @quovadis, but a random amount for your specific account, else it would be detectable.

I've put my main banking app in a hidden folder on my phone.

 

[backstreetboy]

Just use a proper NFC smartwatch.

 

[Quicks]

"In one quarter in 2023, there were over 4,500 kidnappings in South Africa— nearly 50 per day — making the country one of the world’s hotspots for this type of crime."

Thats just crazy... How is this even possible?

This country is more fcked then I ever imagined.

 

[ToxicBunny]

Just use a proper NFC smartwatch.

I'm intrigued now... How is a proper nfc smartwatch going to stop you from being kidnapped and having your bank accounts emptied?

 

[Grubscrew]

Criminals, aren't that dumb that do this. Most of us after a few minutes of rough stuff would divulge the true bank accounts and probably admit to killing JFK too.

 

[backstreetboy]

I'm intrigued now... How is a proper nfc smartwatch going to stop you from being kidnapped and having your bank accounts emptied?

I don't carry a waller or phone to the shops anymore.

 

[quovadis]

I don't carry a waller or phone to the shops anymore.

Errr. Can they not carry you to a computer or you and your smartwatch to some high value stores?

 

[ToxicBunny]

I don't carry a waller or phone to the shops anymore.

Umm I think you fail to understand the mechanics of what is going on here.

 

[backstreetboy]

Errr. Can they not carry you to a computer or you and your smartwatch to some high value stores?

With FNB and most of them I don't even know my passwords. Discovery you need to approve in app. Capitec you need to authenticate your face and scan a QR code. The rest are probably all similar. My phone is at home. They can do jack nothing.

 

[quovadis]

With FNB and most of them I don't even know my passwords. Discovery you need to approve in app. Capitec you need to authenticate your face and scan a QR code. The rest are probably all similar. My phone is at home. They can do jack nothing.

So if they hold a gun to your head the best you can do is ask them if they’d like your super duper nfc watch?

 

[ToxicBunny]

So if they hold a gun to your head the best you can do is ask them if they’d like your super duper nfc watch?

He'll offer them an air fryer as well.

 

[haxormariodavids]

"In one quarter in 2023, there were over 4,500 kidnappings in South Africa— nearly 50 per day — making the country one of the world’s hotspots for this type of crime."

Thats just crazy... How is this even possible?

This country is more fcked then I ever imagined.

The math ain't mathing on this one. 4 500/365 is like 12.