Why replacing your bank card might not stop scammers from spending your money

We’ve reported before that fraudsters are able to keep on spending your money even if you replace your card thanks to a little-known feature of debit and credit cards. So we’ve investigated to find out if the banking industry is making it harder for scammers. In this episode of Which? Money, our scams and fraud expert Faye Lipson explains what an automatic billing updater is, how handy it is when our cards expire, but also how it aids financial criminals to maintain access to our money once they’ve already scammed us. Faye tells us how she investigated nine banking brands and card providers to find out what processes they have in place to protect our money from scammers, detailing any inadequacies she saw during her research. Plus, she shares her expert advice on what to do if your card details have been compromised to ensure you get all your money back. Read more about Faye’s research including the banks’ responses on our website & sign up for our free weekly Money newsletter Sign up for our free Scam Alerts service Get in touch with us via email - [email protected] Podcast listeners can get 50% off an annual Which? membership Become a Which? Money member to access 1-to-1 guidance and receive the Money magazine