Natwest disables GetCash app due to fraud

Customers have lost thousands of pounds

Natwest Bank has admitted that its GetCash mobile phone application service has been suspended after fraudsters managed to steal thousands of pounds from customers with phishing attacks.

The app, which allows customers to draw money from a cashpoint without a card, was suspended at the weekend and Natwest initially claimed that it was simply carrying out a planned update.

Natwest is a subsidiary of Royal Bank of Scotland, which suffered a major IT failure earlier this year after a botched upgrade that was made to batch processing software CA 7 from CA Technologies.

When the bank first suffered the major meltdown in June, it urged customers whose accounts were frozen to use its GetCash service to withdraw money from their accounts.

RBS has now admitted that the application isn't currently 100 percent secure.

A spokeswoman for the bank said: "We are aware of an increase in fraudsters targeting customers with phishing attacks to gain access to the GetCash service.

"We have currently disabled the GetCash service while we increase the level of security required. We will enable the service again once this change is complete."

Natwest has said that it will refund any customers who have suffered losses as a result of fraud.

Dozens of customers complained to BBC Radio 4's Money Box programme that they had been defrauded using GetCash.

For example, the BBC reported that a customer from London had lost more than £950 after he found that money had been taken from his account in August, which was taken from 11 cash machine withdrawals. Each withdrawal did not exceed the £100 limit Natwest imposes per cardless cash machine transaction.

This customer had never even heard of the GetCash app service, which is offered as an additional service on the standard Natwest phone application, and the bank accused him of giving his personal details to a fraudster via a phishing email.

Join the CSO newsletter!

Error: Please check your email address.
Show Comments

Featured Whitepapers

Editor's Recommendations

Solution Centres

Stories by Derek du Preez

Latest Videos

  • 150x50

    CSO Webinar: The Human Factor - Your people are your biggest security weakness

    ​Speakers: David Lacey, Researcher and former CISO Royal Mail David Turner - Global Risk Management Expert Mark Guntrip - Group Manager, Email Protection, Proofpoint

    Play Video

  • 150x50

    CSO Webinar: Current ransomware defences are failing – but machine learning can drive a more proactive solution

    Speakers • Ty Miller, Director, Threat Intelligence • Mark Gregory, Leader, Network Engineering Research Group, RMIT • Jeff Lanza, Retired FBI Agent (USA) • Andy Solterbeck, VP Asia Pacific, Cylance • David Braue, CSO MC/Moderator What to expect: ​Hear from industry experts on the local and global ransomware threat landscape. Explore a new approach to dealing with ransomware using machine-learning techniques and by thinking about the problem in a fundamentally different way. Apply techniques for gathering insight into ransomware behaviour and find out what elements must go into a truly effective ransomware defence. Get a first-hand look at how ransomware actually works in practice, and how machine-learning techniques can pick up on its activities long before your employees do.

    Play Video

  • 150x50

    CSO Webinar: Get real about metadata to avoid a false sense of security

    Speakers: • Anthony Caruana – CSO MC and moderator • Ian Farquhar, Worldwide Virtual Security Team Lead, Gigamon • John Lindsay, Former CTO, iiNet • Skeeve Stevens, Futurist, Future Sumo • David Vaile - Vice chair of APF, Co-Convenor of the Cyberspace Law And Policy Community, UNSW Law Faculty This webinar covers: - A 101 on metadata - what it is and how to use it - Insight into a typical attack, what happens and what we would find when looking into the metadata - How to collect metadata, use this to detect attacks and get greater insight into how you can use this to protect your organisation - Learn how much raw data and metadata to retain and how long for - Get a reality check on how you're using your metadata and if this is enough to secure your organisation

    Play Video

  • 150x50

    CSO Webinar: How banking trojans work and how you can stop them

    CSO Webinar: How banking trojans work and how you can stop them Featuring: • John Baird, Director of Global Technology Production, Deutsche Bank • Samantha Macleod, GM Cyber Security, ME Bank • Sherrod DeGrippo, Director of Emerging Threats, Proofpoint (USA)

    Play Video

  • 150x50

    IDG Live Webinar:The right collaboration strategy will help your business take flight

    Speakers - Mike Harris, Engineering Services Manager, Jetstar - Christopher Johnson, IT Director APAC, 20th Century Fox - Brent Maxwell, Director of Information Systems, THE ICONIC - IDG MC/Moderator Anthony Caruana

    Play Video

More videos

Blog Posts