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Really shocked at all the handwavy comments. > “It’s fine, there are more checks in place to prevent unauthorised transactions” > “Also, it’s insured” Well o

Really shocked at all the handwavy comments. > “It’s fine, there are more checks in place to prevent unauthorised transactions” > “Also, it’s insured” Well ok, that means the bank is protected, but what about my (sensitive) data such as transaction history? > “If anyone does anything bad, law enforcement will step in” Yeah, I totally trust a bank that can’t even properly deal with something as basic as passwords to notice breaches reliably. > “It would be too expensive to replace legacy systems” And that’s the consumer’s problem? I really hope none of you apologists are moving fast and breaking things at any company that is entrusted with people’s personal information or is needed for more critical infrastructure of everyday life than cat pics and funny polls. In Europe banks also don’t like paying to replace legacy systems to maintain security, but such a failure to protect consumer data and privacy would be in serious breach of legislation and result in significant fines.

rodw 7y ago
> such a failure to protect consumer data and privacy would be in serious breach of legislation I imagine this is true in the US also (which may be why the OP asked about reporting this). > result in significant fines This part I have less confidence in. :(
godelski 7y ago
>> “If anyone does anything bad, law enforcement will step in” >Yeah, I totally trust a bank that can’t even properly deal with something as basic as passwords to notice breaches reliably. As an example of this: Equifax. This happened in 2017, and not really much has happened and people haven't been prosecuted. So everyone got some identity theft protection for a year. That didn't solve the problem. Equifax lost a little money. So little changes. And the claim is that it is Chinese state actors that did this, so no one will get prosecuted (because we just let China attack us?). So handwavy seems defeatist. Also, if this is a major bank, then Equifax is a great parallel to draw from.
- TecoAndJix 7y ago
  Link to the symbolic indictment - https://www.justice.gov/opa/pr/chinese-military-personnel-charged-computer-fraud-economic-espionage-and-wire-fraud-hacking https://www.justice.gov/opa/pr/chinese-military-personnel-ch...
cjbprime 7y ago
> Well ok, that means the bank is protected, but what about my (sensitive) data such as transaction history? If I recall, they already sell that to other companies. (It might not have your real name attached, but any one of the companies you purchased from can deanonymize it by cross-referencing their own charge log.)
- cjbprime 7y ago
  Here is a citation: https://www.vice.com/en_us/article/jged4x/envestnet-yodlee-credit-card-bank-data-not-anonymous https://www.vice.com/en_us/article/jged4x/envestnet-yodlee-c...

rodw 7y ago

> such a failure to protect consumer data and privacy would be in serious breach of legislation I imagine this is true in the US also (which may be why the OP asked about reporting this). > result in significant fines This part I have less confidence in. :(

godelski 7y ago

>> “If anyone does anything bad, law enforcement will step in” >Yeah, I totally trust a bank that can’t even properly deal with something as basic as passwords to notice breaches reliably. As an example of this: Equifax. This happened in 2017, and not really much has happened and people haven't been prosecuted. So everyone got some identity theft protection for a year. That didn't solve the problem. Equifax lost a little money. So little changes. And the claim is that it is Chinese state actors that did this, so no one will get prosecuted (because we just let China attack us?). So handwavy seems defeatist. Also, if this is a major bank, then Equifax is a great parallel to draw from.

TecoAndJix 7y ago
Link to the symbolic indictment - https://www.justice.gov/opa/pr/chinese-military-personnel-charged-computer-fraud-economic-espionage-and-wire-fraud-hacking https://www.justice.gov/opa/pr/chinese-military-personnel-ch...

cjbprime 7y ago

> Well ok, that means the bank is protected, but what about my (sensitive) data such as transaction history? If I recall, they already sell that to other companies. (It might not have your real name attached, but any one of the companies you purchased from can deanonymize it by cross-referencing their own charge log.)

cjbprime 7y ago
Here is a citation: https://www.vice.com/en_us/article/jged4x/envestnet-yodlee-credit-card-bank-data-not-anonymous https://www.vice.com/en_us/article/jged4x/envestnet-yodlee-c...