Questions tagged [banks]

Use for questions about security practices used by banks and other financial institutions.

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18 views

How can a phishing attempt SMS be sent by the same number as the legitimate company? [duplicate]

My bank (let's call it theBank; it's a trusted bank in a Scandinavian country) uses among other methods SMS prompts. When performing an action (e.g. payment), you are sent an SMS containing a code ...
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1answer
127 views

Why does the PSD2 have an exception that requires two-factor authentication only every 90 days?

PSD2 requires two-factor authentication, which they call strong customer authentication (SCA). However, there is a “delegated regulation” 2018/389, Article 10, which adds an exception that SCA is not ...
145
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1answer
17k views

How does Shutterstock keep getting my latest debit card number?

I've made a single photo purchase from Shutterstock back in 2012. I created an account and gave them my debit card #. I haven't made a single purchase from them since. Silently in 2018, they activated ...
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1answer
118 views

Why is Western Union so popular among scammers? [closed]

I've heard/read about a number of scams around the internet, and most of the time, the scammer tells the victim to transfer money using Western Union. I might be biased due to my sources, but Western ...
2
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1answer
78 views

Over-the-top (?) security practices for CVV inputs

On some internet banking websites, I've seen some CVV input fields that seem strange to me. Here is an example: The field works as such: You can not input a CVV code using a keyboard. The numbers ...
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1answer
62 views

Is there a standard about storing the password of a bank's website bank-account-management-account in a password vault?

Please assume that I use some FOSS, SaaS, public key && passwordized private key protected password vault program to primarily store passwords of websites I rarely use (such as Q&A ...
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0answers
42 views

Is it reasonable to type a bank password in a phone call to the bank? [duplicate]

Recently my friend called their bank (via a normal phone call) to perform an operation with her account and she had to type her password during the call. Everything worked fine, the operation was done ...
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1answer
214 views

Is this “secure email” mechanism my bank wants me to use best practice?

So, yesterday I needed to sign & scan some forms for my bank, a credit union. Nothing hugely confidential, except it has some account numbers on it. But still, I was a bit concerned, so the ...
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2answers
114 views

Can a third-party service within an e-banking portal actually be safe?

I am using a e-banking portal from a major Swiss bank (let's call it "Bank"). Some month ago, a new solution for the processing of electronic billing (e-bill) was introduced. The whole e-...
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1answer
99 views

How can hackers steal from a savings account that has no client card? [closed]

Someone I know was stolen a few hundreds dollars from a savings account. Looking at the history, she saw transactions like Uber rides and video games purchases she did not do. This account is used ...
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8answers
7k views

Why does my digital bank need my phone date and hour to be correct?

I'm not from Information Security or any IT related area. But I want to know if there is any security reason for my digital bank to demand my phone to be on "Automatic Date & Time"? For ...
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46 views

Dedicated device for online investing and other security measures

I like to invest money online. I invest in both cryptocurrencies as well as regular stocks. As my bankroll grows (let's say 20k+ in the near future), I feel like I need to start taking more serious ...
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1answer
112 views

Online transactions: which one is safer - credit card or netbanking? [closed]

There are various modes of online transaction, such as through entering credit card details, and through netbanking. Which one is safer? it seems there are some risks with credit card mode mode but is ...
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1answer
85 views

What can be done with Credit or debit card informations asked by websites?

Many websites ask for payment by entering information from Credit card such as VISA card/ Mastercard etc. Now, till date I knew that I should never tell anybody about these numbers. Then why these ...
3
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1answer
122 views

Security of bank account using a 8 digit password

Few months ago, my bank forced me to change my password. It was a random 32 characters long password, stored in a well-known password manager. The new password had to be exactly 8 digits, to be ...
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1answer
266 views

What are security issues about sending bank alerts via email/SMS?

Banks offer to send alerts for each transaction happening on a customers account. My bank is offering three options: SMS alerts, email alerts and push alerts into their own app. Only sms alerts are ...
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1answer
210 views

Is Gnucash's flatpak safe to use with online banking?

Can I trust the (official?) GnuCash Flatpak on Flathub, linked from here to here? Following up on this Q&A I'm asking myself if I can trust this, bearing in mind this. Other options would be to ...
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3answers
219 views

Are payment card PINs safe to send via SMS?

I have signed up with a new current account in the UK for day-to-day transactions. The account comes with a payment (debit) card. The banking institution's security handling of PINs for payment cards ...
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0answers
37 views

Can anything be stolen from me using bank Information? [duplicate]

I live on a Caribbean island and i am selling my pick up truck. Someone has contacted me saying they want to buy it and ship to the US.They have asked for all my bank info, IBAN, Swift Code, Acc.#, ...
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1answer
80 views

Cardholder info transmission between issuing and acquiring banks

Which data is actually transmitted between issuing and acquiring banks during various phases of a card payment transaction? Specifically, does the Issuer tell the Acquirer any info (and which if any?)...
8
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1answer
4k views

Western Union prompts for bank login information — ridiculously bad practice? [duplicate]

I was trying to initiate a Western Union transaction from my bank account, but toward the end of the process I was prompted by this request, which is to type in my bank's login information. The ...
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1answer
1k views

Is it possible to bypass 2FA and access bank account in this system?

Nowadays, any credit/debit card transaction made online (at least for mine) requires one to enter the card details (Account No., Expiry Date, CVV etc). In the end, a OTP (One Time Pass) is sent to the ...
42
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3answers
7k views

Why are my plastic credit card and activation code sent separately?

Capital One recently sent my plastic credit card by post mail and its activation code by a separate post mail. What security problem does this mitigate? If a rogue element has access to my mail box ...
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1answer
461 views

Why don't online banks use WebAuthn? [closed]

My ideal bank would offer online banking from a browser with user/pwd and WebAuthn, for example with a NFC or USB key. No OTP or SMS or apps on the smartphone or physical devices required. (It goes ...
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0answers
73 views

How are institutions physically connected to SWIFTNet?

There is a lot of information to be found about SWIFT and the protocols that are being used by its members to exchange messages. However, I could not find much information about how banks and ...
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1answer
794 views

How does the photoTAN (Cronto visual transaction signing) procedure work?

Lately, most banks (at least in Germany) are promoting the photoTAN procedure as the most modern and secure way of authorizing transactions in online banking, see for example here. However, searching ...
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1answer
90 views

Is it safe to give multiple virtual credit card numbers to the same vendor?

There are situations when I have to give several virtual credit card numbers linked to my real credit card to the same vendor. Can a vendor guess the real credit card number by having multiple virtual ...
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4answers
313 views

Collecting banking, credit-card statements from users

I want to build a service that collects user spending history with their permission. Users would send over (banking, credit card) account statements and I would extract, store the following ...
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1answer
122 views

Banking app logon - multiple fingerprints on a device vs 2 passwords known by 1 person

Yesterday I logged on to my banking app via my iPhone. The normal procedure was to enter information that consisted of: The answer to a security question. This had to be entered in full and was the ...
3
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3answers
467 views

Making transactions only, or almost only, by QR codes

I have a OnePlus 6 smartphone and I recently opened a bank account in a bank which seems to me very innovative in the context going payment card (debit/credit) free (using only application and/or cash)...
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2answers
268 views

How secure is Libra considering Visa and Mastercard are behind it?

Libra is the upcoming cryptocurrency by Facebook which Facebook claims is supported by variety of tech companies including but not limited to Mastercard, Paypal and Visa. Facebook also enforces a real ...
21
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7answers
8k views

Unexpected email from Yorkshire Bank

I have started receiving unexpected emails from Yorkshire Bank. I have never been a customer. I don't recall applying for any of their products either, although maybe I did many years ago. The ...
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1answer
142 views

Online payment integration requires handling my bank credentials. Why?

When doing a payment integration what would be the reasons the payment gateway would require your bank credentials instead of redirecting the client to his or her bank website? The context of my ...
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1answer
224 views

Is the zero trust approach really so safe? [closed]

Recently, I see so many emerging vendors that are advertising their use of zero-trust. What potential risks are we exposed to if we shift to zero-trust in our bank?
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1answer
92 views

Data leakage in internet-only services

Nowadays, internet-only services became very popular, for example, direct bank and many others. The advantage of such services is you don't have to spend the time to get to the office in order to get ...
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0answers
83 views

Are printed check security features a gimmick?

This question is perhaps a rough fit for this SE site, but it is about information security, though not specifically about computers. When ordering company checks, there are a plethora of options. ...
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2answers
86 views

Where would I go to use a reliably secure encrypted internet connection?

Lately, I’ve been paying $100 a month for Fios. I’m thinking of canceling this service because I rarely use my internet at home, since I’m at school most of the time and my college offers internet (...
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0answers
152 views

Is there a security issue with fit4less requiring bank information and not simply card number?

When I set up timed payments I tend to prefer setting them up through my credit card. As this tends to be more reliable in case of over charges, etc. For example spotify goes through my credit card. ...
5
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1answer
6k views

Is Plaid safe if I change the password after deposit?

Many services, like Coinbase or Robinhood, use Plaid to deposit money from Bank. I understand that Plaid stores my login and password, somewhere... somehow... who really knows. A lot of people ...
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4answers
622 views

Schneier is telling me to write my bank security password and keep it in my wallet? Is that right?

Bruce Schneier Writes Down Passwords. So Can You ... But how should people deal with all of this in the real world, or on line? "Relax," he says emphatically. Surprisingly for a security ...
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1answer
2k views

Norms and Compliance for storing bank account details

I am from India and working on a B2C service product. There I have to transfer money to my customers, so I need their bank account number and IFSC code. However, I was wondering if there are some ...
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1answer
120 views

Unauthorised transfers to developer's account in bank transaction software [closed]

Our organization has software for transactions. The person who designed this software illegally designed it in such a way that when any transaction is performed 0.5 percent of the transaction goes ...
97
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3answers
100k views

Is Plaid, a service which collects user’s banking login information, safe to use?

I recently signed up for Privacy.com, which uses a service called Plaid to link a bank account. To do this, it requires the user to provide their banking username and password to a webpage from Plaid,...
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0answers
61 views

How does using an app rather than code card to authenticate improve security?

Our bank used to issue code cards, with 72 passwords printed on them. To login to net bank we used to need to know: Our bank account number (we have that written down) A password we've picked. We ...
2
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2answers
314 views

How should we mitigate threats that are keep coming to our security monitoring system?

We have continuous cybersecurity threat feeds that coming to our SOC on a daily basis from different sources that provide all the new CVEs, new malware variations and more. We just don't know how to ...
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1answer
337 views

Which encryption methods are used in online banking?

How does the connection get established in online banking? Just with SSL? I searched the internet for that, but there are just 'user guides' if you want to use online banking but not how it works on ...
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1answer
168 views

Deutsche Bank PhotoTan app signed with self-signed certificate?

Deutsche Bank recently started forcing its customers to switch their transaction authentication from iTAN to PhotoTAN. Now I wanted to verify the authenticity of the Android app like this: # ...
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4answers
2k views

Why should we prevent users from saving their passwords in their password manager?

I understand there are a few other controls, like 2FA, for making transactions in many bank account websites, while only users required for username and password to access the account. I noticed ...
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0answers
46 views

What are the most important security controls to implement when deploying BYOD in an organization? [closed]

In organizations like banks that have already many security controls. Will implementing BYOD (our organization employees will be able to use their own computers to access the organization when they ...
0
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1answer
205 views

Fake bank text message

I recently tried to use my card to buy something on my phone for £29.99. My card was declined so I used a different card and the payment went through. A couple minutes later I get a message from a ...

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