Require the PIN
This is a very simple solution to a big problem. Stop 90%of the fraud with banking online. Every transaction requires your approval with your PIN number. This will cut down on most of the fraud in personal banking. Even if you have recurring payments. Email and text messenger sends you information asking your approval. Enter it and the transaction goes through, If you don’t put in the PIN the transaction stays alive for 3 and then is canceled.
The bank should also provide phone support for people that can’t use a smart phone.
Facebook has more security than most banks. If I have account or login problems I get a message from Face book to check my phone and get a code. It works very well.
When my PayPal was hacked the money was just taken from my other bank account and handed of to whom ever made the request. PAYPAL just let it happen. I only lost 1500 dollars
But I had to borrow money to make it up. There is no excuse for this when the Require the PIN number is such an easy solution.
It took 3 months to straighten out that mess and truthfully I am not sure it is fixed.
So here is the plan. Its going to take money to get politicians to work to make this law. For that reason I am getting a Kick Starter to fund this project. Small donations..5 to 20 dollars.
Yes banks will have to rewrite some software but they should have done this a long time ago
Ultimately this will be good for the banks. They will be able to decrease the fraud divisions that they have now. I was on the phone with the fraud people for hours and hours. If they had Require the PIN in place none of this would have happened.
I have a Facebook page and I am hoping I can keep it up.
I will get an X page as well.
And Instagram.
Next I will make and post a video to explain RTP