Property News · January 13, 2018

Open banking? I think I’ll be keeping my door shut | Patrick Collinson


I might sound like a luddite, but I’m worried that letting an app access my data might leave me vulnerable to fraudOpen banking starts on Saturday. But I think for the time being I’ll be keeping my door firmly shut. Why? Because it’s not absolutely clear who is going to cough up when something goes wrong, which, inevitably it will at some point.If a fraudster were to hack into, say, Lloyds Bank, or an internal employee accessed systems on behalf of the crooks, it’s pretty clear where the liability lies. Lloyds would have to compensate you for any monies stolen. It also has very, very deep pockets from which to find the money. Continue reading…

Source : theguardian.com
Read more…Open banking? I think I’ll be keeping my door shut | Patrick Collinson

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