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Wonder if they obtained any people's financial data or social security numbers. Probably mostly self employed people and small businesses. Pretty scary how peop
by Keverw 7y ago
Wonder if they obtained any people's financial data or social security numbers. Probably mostly self employed people and small businesses. Pretty scary how people use their SSN for everything. Seems so insecure to have a number you just openly pass around... Need to get a ID or license, credit card, bank account, your doctor, dentist asks for them, your phone company, cable company, of course when getting paid, and even police officers ask for them sometimes and write down in a notepad if your name happens to match someone else's name who has a warrant. Many other uses probably too I didn't think of off the top of my head.
I was randomly one day looking at dentist new patient forms and one even wanted to know your relationship status, not sure how that's relevant if a single or married guy gets a cleaning... I know home alone when the internet went out, so called the local cable company to see if an outage and the lady wanted the social security number on the account before continuing, which I didn't know. Just insane how many things use the same number, it's like single sign on for real life.
Same issue with bank account numbers. To pay someone with direct deposit, they can use the same number to withdraw from your account. I'm surprised banks haven't figured out a way to offer deposit only option... Just create a new account number but linked to another account, where deposits to account 4321 goes to account 1234 instead, but can't ever withdraw from 4321.
I got a feeling Facebook's account system is probably more secure than my local bank. Pretty sad when someone's hobby blockchain project has more technology in it than banks with billions of dollars of assets under management.
- mschuster91 7y ago> I was randomly one day looking at dentist new patient forms and one even wanted to know your relationship status, not sure how that's relevant if a single or married guy gets a cleaning... This is for spousal rights - i.e. if your spouse is allowed to request access your data. > I'm surprised banks haven't figured out a way to offer deposit only option They have, some German banks assign an IBAN also for "Sparbücher" (saving plans). These cannot be withdrawn from. For withdrawal security, under SEPA rules you have 8 weeks to (instantly!) reverse a transaction. If you misuse this, you can get your account closed and criminal proceedings filed so that is a relatively effective fraud prevention.
- ben509 7y agoIs the Sparbücher number for a virtual account that is backed by a regular account?
- mschuster91 7y agoNo, it's an entirely separate account, usually you're free to shift around money between them using online banking.
- ben509 7y agoOh, so the "deposit only" aspect is for restricting less authenticated transactions. That makes sense.
- Keverw 7y agoInteresting, don't know much about the spousal rights thing as never been married but felt like they are asking too much info. I figured it's to try and collect if you don't pay since also employment info was a question. I know I heard in Europe there's some law called PSD2 that banks would provide standard APIs too, but haven't been following that space since not in Europe. I know there's budgeting and other apps but they login to your bank account and scrape the data. I was using a app that categorize your spending for a little while but got sick of it making me relog my accounts over and over. I think one of my credit cards was thinking their servers were trying to hack my account. So a actual official API sounds like the move in the right direction.
- ownagefool 7y agoWe call PSD2 "openbanking" in the UK. It basically means things like YANB (budgeting tool) or freeagent ( accountancy tool for small business) can get access to data you want them to, without you giving them your credentials. Historically, most banks offered all or nothing access, and the aggregators would screen scrap using credentials that can steal all your money, and the links usually broke, or needed you to contioniously re-auth. Its actually working. Modern banking apps will likely start to pull in all your financial services in the future.