Banks and fintechs at war over password sharing

Banks and fintechs at war over password sharing | afr.com

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Micro investment company Acorns has accused ANZ Banking Group and other banks of telling customers they can't share account passwords with the start-up, retarding its growth.

From Banks and fintechs at war over password sharing | afr.com

The article calls password-sharing a “grey area”, which it really isn’t, since both bank procedures and common sense security practice should tell us that giving _anyone_ a password (which ought not to be thought of as any form of security at all) to a third party is dangerous. When they get hacked, you get hacked.

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Websec Canada: Launching replay attacks against the Wells Fargo Wallet service

xxx This white paper is a shortened version of the actual research. Unfortunately, the exploitation bug is not fixed yet. The company was notified and informed about the issue. However, the bug is not fixable (at the moment). From Websec Canada: Launching replay attacks against the Wells Fargo Wallet service . xxx

There is no excuse for not taking cards

So we went to the pub. For lunch. Seven of us. Say £20 per head. £100+ quid. Say £50 quid gross for the pub. Colleague goes to order food and drinks and pay at the bar. Apologetic barmaid comes over to explain that their “card machine” is down, so she can only accept cash. Under normal circumstances I would have simply walked out, feeling it wholly inappropriate to reward such a poorly managed establishment and, as a functioning actor in a capitalist economy, done my duty to depress their lunchtime takings. Here’s what we wanted to say: This is absurd. This is 2016 not 1916. Your card machine is down? Well, so what! Are you seriously telling me that mein host has no mobile phone number capable of registering for PingIt or PayM? That none of the staff or the pub itself have a PayPal account that I can send the money to? That neither the owners nor managers not contingency planners thought to tuck an iZettle behind the bar to use when the clunky and expensive GPRS terminal fails for o...

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