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Sounds like they are open to social engineering attacks, if you can get a rep to describe the password to you... Meaning I could pretend to be you and get your

• matz1 7y ago
  Maybe but that is their problem. Its still the bank responsibility to deal with that.
  • godferthomy 7y ago
    Well any risk is going to be paid by the customer in the end. If they lose 0.01% of their deposits because of a vulnerability, they're gonna be charged more by their insurance and eventually charge it on their service fees to customers.
    • matz1 7y ago
      Yes, if they cause the customer actual damage, such as increased fees then it is a concern. But if there is no actual damage then what's the issue?
    • perl4ever 7y ago
      You're implicitly suggesting that the bank can either pass on the costs without people noticing, or that they have no competition, so they can set fees and interest rates to whatever they like. I don't think either is true. We do regulate banks, and this is why it's vital. You could just as well say the cost is going to be paid by the shareholders, the public (in the form of reduced taxes), or the employees.