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Banks are starting to support opening accounts and credit cards using phone carrier data for authentication. A majority of application data could be auto-filled
by siruncledrew 8y ago
Banks are starting to support opening accounts and credit cards using phone carrier data for authentication. A majority of application data could be auto-filled using only a phone number and billing zip code. The effort for convenience in applying actually could open a lot of people to potential fraud (which the banks won't materially feel) and serious financial damage.
- everybodyknows 8y agoA counter-measure to such attacks would be a "block" against the usual "hard pull" from Equifax or other credit raters when opening a bank account.
- siruncledrew 8y agoUsually a hard pull isn't done for a bank account (it is for loans though). A soft pull is done instead, which has essentially no credit impact.