Mobile banking: alarm as fraudsters take over handsets and raid accounts

Scams underline risks of banking on mobile, with not all lenders prepared to refund victims

The risks of doing banking on your mobile handset have been underlined by the stories of Guardian Money readers who had their mobiles taken over by fraudsters, who then emptied their bank accounts.

In recent months, Guardian Money has become increasingly alarmed at how often people are reporting that their mobile phone account has been taken over - with O2 our most complained-about provider.