Money Talks Podcast: The role of mediation when you have a dispute with a bank or insurance company

Here is an excerpt from the conversation:

Eunice Chua, CEO of FIDReC:
So we might ask: “Do you often shop online? What popular sites do you visit? Do you buy things from social media?” And through these conversations, the customer has that realization, “Yes, maybe (around that time) I clicked on this link and there was this attractive deal,” or “Oh, I was playing this game, and there was an online -up,” And I just clicked on it.”

So, it’s actually quite scary that we lose a lot of our information just by clicking on something, and you may not realize it but this has allowed some scammers to see what’s on your phone, or actually be able to collect what you enter some sites and so on. This has led to this kind of compromised credentials situation where the customer doesn’t know what happened. But from the bank’s perspective, “Oh, that was appropriate.” There was an OTP key.

Andrea Hennig, host:
Two-factor authentication and all that is done.

Eunice Chua:
These are two victims.