Well the “mainstream media” finally heard about the latest Wells Fargo hack.
In PcWorld they ran this article.
The compromise was first reported by The Breach Blog, which posted a link to a July 31 letter in which Wells Fargo notified New Hampshire Attorney General Kelly Ayotte that nine state residents were affected by the breach.
The bank says that out of about 7000 customers they have good mailing addresses on 2000.
Mailing address??? “Hi I’m your bank and your personal data has been compromised, it’s being used to steal your identity, but I’m just going to send you a letter so the bad guys have more time to continue ruining your good name.”
That’s what I like a caring, responsible financial institution that provided more than lip-service. —For the unobservant and Wells Fargo that was Sarcasm
In recent years Wells Fargo has suffered a series of data losses ranging from stolen computers to outright hacks. With little to no press and then they go on happily taking more of our data that they also won’t be able to protect.
It’s strange how there are no real consumer protections built into the law as far as our personal data is concerned. –Of course this might have something to do with the huge dollars spent on lobbying and general political influence on the part of credit issuers and banks.
I had my ATM card used in Atlanta, I’m out here in the west. The first thing the “helpful” security person as Wells Fargo wanted to know was if the card had left my possession. I said no. He then asked if my pin number was written down and kept in my wallet. No again. We went through a series of questions all leading to the same point. What had “I” done to compromise my card.
This card carried the Visa logo which means you don’t need a pin to use it, but that concept seems to be beyond the understanding of the ATM security people, because mentioning that possibility simply caused them to continue along the “what happened to my pin” path.
When they got tired of implying that I was somehow the culprit, or at least complicit, I had to ask this putz to stop my card. HUH???? The very first thing I’d do is stop the card.
They also have a policy that says if I’m not willing to prosecute the fraudulent charge stands.
The bad guys win. For less than $80 I’m unwilling to take anywhere from a few days to a few weeks off from work to testify in Atlanta.
In the mean time Wells Fargo gets to keep their fee, the bad guy gets to keep what he bought, the store owner get to keep his profit and the only way I get my money back is to turn my life upside down.
Ok, boys and girls, here the deal:
There’s a penalty for having my card used without my permission, mostly for me. And this monster bank has enough influence so there is no penalty for their failure to protect the data of thousands of consumers. –Welcome to real life.
I’d change banks but they all have the same problems and play by the same rules. –Which are whatever the banks say they are.
We need some sort of reasonable, enforceable rules governing banking and data security. There should be a stiff penalty for failing to keep our data secure, and all breaches should be announced publicly. And obvious fraud should be considered just that, and the banks should credit the account and then investigate.
—I know, I know fat chance of either of those ever happening… A guy can dream can’t he?
niiiiiiiiice... just like walking into an emergency room in a local hospital and the first words out of the receptionist: "Your insurance ...