News
Monzo advises 480,000 customers to change their PIN after security blunder
The digital bank said it stores records of PINs in a tightly controlled and secure part of its systems but on Friday 2 August it discovered it had been recording some people’s PINs in a different part of its internal systems.
Monzo said it has deleted the information stored in the wrong place and made sure the information wasn’t accessible to anyone in the company.
There is no indication that anyone outside Monzo had access to the PINs and the bank has said no fraud has been carried out.
The issue affected less than a fifth of UK customers and Monzo said it has emailed anyone affected telling them to change their PIN to a new number as a precaution.
What customers should do
If you’ve been affected, you are advised to change your PIN by putting your Monzo card into a cash machine, entering your old PIN and choosing ‘PIN’ services. Then choose ‘Select a new PIN’ and change it to a new number.
All Monzo customers have been advised to update the app to the latest versions which are iOS 2.59.0 and Android 2.59.1.
Related Posts
There are 0 Comment(s)
Everything you wanted to know about ISAs…but were afraid to ask
The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...
Your right to a refund if travel is affected by train strikes
There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...
Could you save money with a social broadband tariff?
Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Five tips for surviving a bear market mauling
The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...
Money Tips of the Week
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.