Mobile phone banking apps leave users “dangerously exposed” to fraudsters, reports the consumer champion Which?
The watchdog found apps are too easily taken over by criminals.
One victim told Which? he lost £73,000 from his Barclay’s account after his phone was stolen in a pub.
The thief had skipped around security measures on the mobile and added a new payee to the account.
The thief then changed the password and controlled the account.
A recent banking security test by Which? found it was “too easy” to re-set log in details.
A Barclays spokesman said: “There is no higher priority than the protection of our customers’ funds and data.”