One thing that still drives me crazy, and doesn’t seem to have changed with banks, is they way they handle fraud detection with the customer. Their sophisticated algorithms detect fraudulent activity, they flag it, suspend the card, and give you a call, leaving a message identifying themselves as your bank and asking you to call … Read more
Lots of attention at the moment on the implications of the Bangladesh Bank hack, now four months old. This is a piece I contributed last week. Quite a bit of water has gone under the bridge since then. We not only don’t know who was behind the hack – North Koreans have been put somewhere … Read more
This just landed in my inbox: more proof, if it were needed, that banks are dumber than a sack of nails when it comes to security. Or they just don’t care: The email comes ostensibly from HSBC’s Singapore office. But it’s actually mailed by 8rewardsroad.com, a Singapore-based marketing company with a somewhat dodgy website. (As … Read more
You would expect that if you choose an elite, premium product or service that it was more secure than its lesser, bog standard one. But after an incident today I’m not so sure. I happen to have a fancy premium account at my bank. I didn’t really want it, and object to such things on … Read more
Here’s a useful innovation for foiling scammers stealing money from ATMs with their heads covered to avoid identification: a system which “can distinguish between someone whose face is covered or uncovered, and only grant access to those who bare their faces.” No face, no dosh According to Taiwan’s Central News Agency (no story URL available; … Read more