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Comment Re:Banking passwords are overrated (Score 2) 195

With NatWest I have to use a card reader and my PIN to set up a new payee online. Someone who broke into my account could pay my credit card bill or transfer money to my brother but would find it hard to actually gt their hands on my cash.

Its same with Nationwide and Coop. YBS uses a confirmation by phone system, where a an automated call tells you a number that you need to enter on their site.

Comment Re:Banking passwords are overrated (Score 4, Informative) 195

I have accounts with First Niagara (they acquired my HSBC account), ING Direct (recently acquired by CapitalOne) and Ally Banks. I frequently move money between them through the web interface - real easy to set up, you just need to be able to log in to both accounts you're transferring between. Furthermore, my girlfriend has an account with Keybank and we transfer money from her account to mine about once a month to cover living expenses (I pay for almost everything up front, she pays me her share monthly). All I needed from her to set it up was her password.

If I get your banking login info, I can probably get a good chunk of your money before you realize it. Fortunately, many banks offer email alerts for transfers over X amount or if another account has been added. However, if you target someone who doesn't check their balance or email more than once or twice a week, you can probably get away with it before they know it's happening.

Same here in the UK. With FasterPayments I can transfer money from a NationWide account to a Braclays or a Coop within minutes. My Brother in Law used this recently when his daughter didn't have enough money to buy a train ticket home from uni, she was in the station, called, he transferred the money and she withdrew it from the CashPoint (ATM) a minute later.

Comment I think the article misses the point (Score 4, Insightful) 195

The gist of TFA is that since the transfer from the person with the compromised password to the mule is reversed it is the mule that loses out, so the password isn't the bottleneck. (evidently the bottleneck is mule-recruitment and back-end fraud detection). This rather misses the point that it is a potential stopping point. If the account cant transfer money to the mule then the mule can't be persuaded to take commission and send the rest on by Western Union.

Maybe I'm cynical, but it seems to me that this analysis is a big "not my problem" statement by Microsoft. The client-end OS and browser security, which Microsoft has a big share of are not the "real problem" - that lies at mule recruitment and backend fraud detection systems, both areas where Microsoft has little investment.

Comment You are better off hiding it (Score 1) 295

Create a lot of profiles with your name, with a lot more interesting things than you. John Smith the actor. John Smith the nuclear physicist. John Smith who saved the USA from danger. Just make it up and post it.It has to be crazy enough that people don't know its you. You could pay people to change their name to John Smith and do things to get in the news - like pissing of the balcony at a film Premier, making a life-sized bacon statue of Muhammad, attempting to ascend Everest on a pogo-stick, or descent on a spacehopper. Anonymously start a cult who's members all have to change their name - at which point you can anonymously use your real name. Soon anyone who searches for John Smith will have to go to the 99'th search page to find you.

Comment Re:How Does Germany Beat Chinese Pricing? (Score 4, Funny) 644

They mentioned briefly that the US tried to subsidize solar but the Chinese kept undercutting our manufacturers and we just couldn't beat their prices. What is Germany doing differently that allows them to beat Chinese prices? Tariffs? Import restrictions? Why does that kind of market manipulation work for Germany and why do we allow subsidies to happen in the states but not that sort of competition restriction? Oh, right, they have more sun ... which still doesn't answer how their solar products compete with the Chinese. I like how they named dropped 'natgas' several times because the US has so much of it! No problems worth mentioning about natural gas!

The only explanation is that China must get more sun than anyone else in the World.

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