Ottawa woman warned BMO of suspected bank fraud, still lost $15K | Page 6 | BMO | Discussion forum

AltaRed said

...If you don't know how to fish, stop going out on the lake with a fishing pole expecting good results.  

That is not a fair expectation... financial services are making it harder and harder to not engage in some form of online interaction. Not everyone understands, nor has the insight to fully appreciate the complexity of the online world. But they have less and less choice to avoid it.
And of course, the online experience is a quagmire... lacking consistency and even reliability, which adds to the frustration of trying to understand it.
(BTW, I come at it from an experience IT perspective, recognizing that not all can have that level of knowledge).

No one actually has to conduct their affairs using an online portal as there are still quite a few FIs that have brick and mortar locations. It simply means if one cannot manage and meet the expectations (terms and conditions) of online computing habits, don't have a contractual banking relationship with an FI like EQ Bank, or any of several more FIs on the HISA and GIC tabs of this website.

Recently I became an RBC client. Wasn’t by choice. They bought my bank and then bombarded me with emails to upload their app. I was certainly lead to believe that banking online is the only way to do it. They are part of the banking oligopoly in Canada. Backed up by the taxpayer. Its always a balance but I expect the bank to take a lion share of responsibility for security.

In a competitive environment bad publicity is bad for banks and forces them to invest more in security. Not our case. If a couple of court cases go against banks, they might put a bit more focus on it.

Human behavior resistance to change is just amazing. Need to accept the fact that digital banking is the way to go, it just bring along a different set of security concern that one need to learn and adapt. If you refuse, dont use a bank....

As for the lady who "alert" BMO that something may be wrong with her account, its obvious to me she 'believed" she did something wrong to begin with, Be it provide security info thru a phishing site, or phone call, or somthing similar.
And for those who claim the bank's not protecting their account when its logged in using a trusted IP of the person, its just unbelievable how quickly integrity is gone when money is on the line.