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Aussie banks expose millions of credit cards

mask.of.sanity (1228908) writes | more than 3 years ago

Australia 1

mask.of.sanity (1228908) writes "Australia's biggest banks are posting credit card numbers in clear view on mailed customer statements in a direct violation of credit card security regulations.

Placing numbers where any mail thief could grab them is a fundamental breach of the regulations and places the financial accounts of potentially millions of Australians at risk.

The credit issuers like Mastercard, American Express and Visa have said the breach has been known for years but the banks have simply ignored it.

It comes as the Australian Government plans to tighten the screws on security arrangements for credit cards."

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Not a new problem (1)

Anonymous Coward | more than 3 years ago | (#35170004)

This isn't a new problem. For years, banks have been sending me forms with my name, account number, date of birth and current credit limit to my *home* address.

It's really bad to go to the mail box, pick up a letter on the ground (long story, broken mail box due to a combination of explosives and bored teenagers) and open it to see enough information to impersonate yourself.

Which Bank? you'd be asking yourself does this? Well. I can't say.

What is much more annoying is that the following occurs (this interlude brought to you by a good friend of mine):

Step 1. Have offer accepted on a house
Step 2. Apply for a loan
Step 3. House sale settles
Step 4. Move to new house
Step 5. Bank sends the confirmation letters, and a new credit card, and a new pin (that is 3 letters)
Step 6. Complain to bank about missing mortgage letters, missing credit card
Step 7. Bank apologises
Step 8. Bank re-sends mortgage letters *to the old address*
Step 9. Bank re-issues credit card; and sends credit card and pin (2 letters) to *old address*
Step 10. Talk to lawyer. Have lawyer send a cease and desist letter to the bank to stop them sending mail to an address where you do not live / to a location where you can not collect your mail.

No, the Post Office redirect does not work all of the time (manual process).

Yes, the bank stores your address in several locations.

No, it does not appear to be possible for them to JUST UPDATED YOUR ADDRESS ONCE OR JUST USE YOUR POST OFFICE BOX.

*sigh*

Sorry for the shouting.

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