quote:

how hard can that be to trace?

My understanding is it's a speed game. Someone sets up an account, gets the money in there, transfers it. Closes the first account...

I don't remember if this was in one of the links WTG posted or if I read it somewhere else, but I read about online accounts that are easier to set up and harder to trace, and that's what makes this work.

See the 2022 movie “Emily the Criminal”. It’s a fictional narrative crime thriller film about a credit card fraud ring and how they operate but it can also apply to stolen checks, stolen smart phones, etc. They’re high tech criminals and they can clean you out pretty quick.


Posted by ShiroKuro. (The quote button isn't displaying on my screen).

"I have to wonder about this. At the very least I would worry that there might be a significant time lag during which you could be without funds if you had money in a checking and/or savings account and thieves forced you to transfer that such that the money was no longer in your account..."


After I saw it, I once talked to a banker about this movie. She said banks have to conduct an investigation into the reported theft and it can take about three months to get your money back. She also recommended keeping a minimal balance in a checking account to minimize the loss.

My Venmo and Schwab apps are now hidden. Thanks for this. I had no idea this was a problem.

quote:

Originally posted by Jack Frost:
My Venmo and Schwab apps are now hidden. Thanks for this. I had no idea this was a problem.

Do you have an iPhone or an Android? And if you pull down the search bar and search for the app, will it pop up?

quote:

Originally posted by AdagioM:

quote:

Originally posted by Jack Frost:
My Venmo and Schwab apps are now hidden. Thanks for this. I had no idea this was a problem.

Do you have an iPhone or an Android? And if you pull down the search bar and search for the app, will it pop up?

Turns out you can change the name of any app and such that search won’t find it unless you know the new name.

"The first iOS 17.3 beta rolling out to developers today includes a new "Stolen Device Protection" feature that is designed to add an additional layer of security in the event someone has stolen your iPhone and also obtained the device's passcode."


https://www.macrumors.com/2023...-protection-feature/

Thanks for posting that, rontuner. I saw a snippet on the news but didn't catch exactly what the new features are. Sounds good for iPhone users.

I had heard about thieves holding the phone in front of the victim's face or pressing their finger on the phone to unlock it. These new features take that into account:

quote:

For especially sensitive actions, including changing the password of the Apple ID account associated with the iPhone, the feature adds a security delay on top of biometric authentication. In these cases, the user must authenticate with Face ID or Touch ID, wait one hour, and authenticate with Face ID or Touch ID again. However, Apple said there will be no delay when the iPhone is in familiar locations, such as at home or work.