LFP251 – WARNING Re Mugging & Banking Apps

London Fintech Podcast

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This is a super-short extraordinary LFP outside the usual programming schedule to alert listeners to the crime of mugging folks and then getting them to transfer under duress large sums of money to the thieves bank account. This is apparently on the increase in London and is well-known in countries such as Brazil and South Africa where people may routinely take burner phones with them when going into the City.

I initially learned about this risk in this Reddit thread.

Many people without reflection may in effect carry access to all of their money on a single device. We look at possible simple answers to avoid unnecessary risk.

There is also a shoutout for a Q& A in the 10th anniversary episode and instructions as how to send the Qs to me for answering in that episode.

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#Tech #Business #Deep Dive #Mike Baliman