My bank has recently replaced passwords with occasionally asking me information that is "known only to me". Such information includes my date of birth, postcode, and my mother’s maiden name.
Obviously these details are far from qualifying for "known only to me", and what’s worse, I can’t change these when they are compromised.
Is there anything reasonable I can do about this in the UK? I’m sure banks are legally obligated to implement proper security, and these days even people without any formal security education know that dates of birth don’t exactly qualify as "proper security".
I hope this falls within the scope of the site under the category of "policies".