Banks warn on fraudsters - There’s no need to be vulnerable

Though most of us use online payment systems very few of us have any understanding of how they work or how vulnerable they might be. After all, if we had we might be as successful as Limerick brothers Patrick and John Collison, founders of payments firm Stripe valued at $35bn.

Online payments or various cards are targetted by thieves and the Banking & Payments Federation Ireland (BPFI) warned yesterday that the average sum stolen is €1,005, but is €1,320 among people over 55.