Phone stolen unlocked but NOT logged in to banking app. How do fraudsters do it?

Posted by Shkyboi@reddit | AskUK | View on Reddit | 182 comments

Hi all,

I’m not asking for advice on next steps as thankfully NatWest, my credit card provider, are refunding me, but I just want to know how the fuck fraudsters are able to do this?

My phone was stolen out of my hand in London, and it was unlocked but I was only texting someone, not on banking apps.

For the few days after, it seemed all they managed to do was get an uber eats order and a taxi. I rang up NatWest to check the day after and I was told no activity to worry about

A few days after that, so today, I had an email saying I’m nearly at my credit limit.

£2.8k was balance transferred out of my account

How the fuck can they do that? There’s no way they’d get in to the NatWest app, I hadn’t even had it set up properly and had to enter the 3rd, 4th and 14th letter of my password and all that jazz

Any ideas? NatWest told me they can see the account details, but for me to have an investigation set up I’d need to wait for the refund. I just want the money back in now, so guess I’ll never find out