Wednesday, January 11, 2017

Tokyo Online Security: Privacy fears as banks track mobile phones

Banks will track customers' movements via their mobile phones in a bid to tackle fraud. Barclays is introducing a system which allows it to check whether someone is in the same country as their debit or credit card so they know whether the payment is fraudulent or not. For example, if a suspicious transaction was made in the America, but data showed the customer's phone it was in the UK, the bank would realize something was amiss.