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I just tried this on my account. There's no way to steal money with it. Only view account balance and transactions. Also it looks like BofA has responded to
by gqwubtx 14y ago
I just tried this on my account. There's no way to steal money with it. Only view account balance and transactions.
Also it looks like BofA has responded to basically the same issue but with credit cards: http://www.msnbc.msn.com/id/44231957/ns/business-consumer_news/t/security-flaw-could-expose-credit-card-data/ http://www.msnbc.msn.com/id/44231957/ns/business-consumer_ne...
“Our objective is to balance customers' need for convenience and quick access to general information with industry best protection of their accounts,” wrote Betty Reiss at Bank of America. “In addition to at least two levels of authentication required to access very limited information over our automated system, we have additional security controls in place to detect potential abuse of our automated systems. We understand that there will always be individuals who are trying to beat the system, and we're constantly looking at measures to better protect and service our customers.”
- MichaelGG 14y agoExcept some systems, such as PayPal, determine authorization to a bank account by making a couple of small transactions and requiring you to confirm the amount. So read-only access to statements does allow you to get more access to the account via other parties. (I found this out after someone I gave read-only access on my account started making withdrawals via PayPal.)