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EDS: Banks should shape up on security
September 21, 2005 -
Credit card breach exposes 40 million accounts
June 17, 2005 -
Bank of America takes on cyberscams
May 26, 2005
Bank of America refused to release the name of the company involved, the exact number of customers affected or whether the company in question was online or a traditional brick-and-mortar establishment.
The case is unusual in that debit cards appeared to be at risk. Credit cards are typically involved in security breaches at financial institutions because they are used more often than debit cards for retail transactions.
"These are intricate matters...and may involve information that is not exactly clear and concise," said Michael Chee, the bank's spokesman. "It would be premature to discuss any third parties until an investigation is conducted."
Chee said that to this point, there is no evidence that any of its customer accounts have been compromised. The move to cancel debit cards was a precaution, he said.
An investigation is under way, Chee said, but he added that he was unaware of what law enforcement agency was overseeing it.
Bank of America issued letters to many customers notifying them of the breach and that their debit cards were no longer good. The bank is also telling customers to watch out for any unauthorized transactions on their statements.
"As a proactive security-minded effort, we may take steps to replace people's cards," Chee said. "We know this can represent a minor inconvenience. The question is, would we rather risk inconveniencing customers and protect their information and accounts, or do we just do nothing?"
See more CNET content tagged:
Bank of America Corp., debit card, bank, spokesman, security




I think it is about time that banks like Bank of America start thinking about a platform solution that keeps ID offline rather than playing with flawed software, toys or gadgets that haven't been proven.
Everyone knows four level authentication with offline devices is mandated or fiated by the FFIEC and the result of all those relationships is users will benefit from single use credit card numbers that are kept offline.
So, wake up and do that because otherwise people like me are going to ask "Where's the Beef".
The patent has been given just do the right thing within the Federal time limit and the winner will end up being the biggest most reputable bank.
Saying you are giving me my money back after theft is like saying you are going to definitely repay me for bank rape.
Well, here's a clue guys, you invade my account and I'm gone because I cannot trust your promises anymore. So, whomever gets their act together, that's who I'm marrying my money with respectively.
I'm not mad just fed up and I am not taking all this double talk anymore. Ciao.
FIRE THEM NOW! I did. Its great.
I think it is about time that banks like Bank of America start thinking about a platform solution that keeps ID offline rather than playing with flawed software, toys or gadgets that haven't been proven.
Everyone knows four level authentication with offline devices is mandated or fiated by the FFIEC and the result of all those relationships is users will benefit from single use credit card numbers that are kept offline.
So, wake up and do that because otherwise people like me are going to ask "Where's the Beef".
The patent has been given just do the right thing within the Federal time limit and the winner will end up being the biggest most reputable bank.
Saying you are giving me my money back after theft is like saying you are going to definitely repay me for bank rape.
Well, here's a clue guys, you invade my account and I'm gone because I cannot trust your promises anymore. So, whomever gets their act together, that's who I'm marrying my money with respectively.
I'm not mad just fed up and I am not taking all this double talk anymore. Ciao.
FIRE THEM NOW! I did. Its great.
11/09/2005 CHECKCARD 1108 NUF*ACC INS 42770318 800-863-0641 NY [tx # deleted] $24.90
11/04/2005 CHECKCARD 1103 EASY SAVER 800-262-6199 PA [tx # deleted] $14.95
10/25/2005 CHECKCARD 1024 NCM*SAPPHIRE SET 3OF3 800-327-9076 NY [tx # deleted] $19.95
10/17/2005 CHECKCARD 1014 NCM*JEWELRY E & P P&H 800-835-9195 NY [tx # deleted] $5.99
10/17/2005 CHECKCARD 1014 NCM*JEWELRY E & P 800-835-9195 NY [tx # deleted] $29.99
10/11/2005 CHECKCARD 1010 NUF*ACC INS 42770270 800-209-3515 NY [tx # deleted] $9.95
10/11/2005 CHECKCARD 1010 NUF*ACC INS 42770318 800-863-0641 NY [tx # deleted]$24.90
10/07/2005 CHECKCARD 1006 EASY SAVER 800-262-6199 PA [tx # deleted]$14.95
09/28/2005 CHECKCARD 0927 NCM*SAPPHIRE SET 2OF3 800-327-9076 NY [tx # deleted]$19.95
I ended up closing my account with bank of America and am much happier with my new bank. However I have still be unable to receive any refund from this company or there partner bank of America.
I?m sure that some day there will be a class action lawsuit against all three of these companies and I would love to be included.
Reference: bankofamericasux.com
11/09/2005 CHECKCARD 1108 NUF*ACC INS 42770318 800-863-0641 NY [tx # deleted] $24.90
11/04/2005 CHECKCARD 1103 EASY SAVER 800-262-6199 PA [tx # deleted] $14.95
10/25/2005 CHECKCARD 1024 NCM*SAPPHIRE SET 3OF3 800-327-9076 NY [tx # deleted] $19.95
10/17/2005 CHECKCARD 1014 NCM*JEWELRY E & P P&H 800-835-9195 NY [tx # deleted] $5.99
10/17/2005 CHECKCARD 1014 NCM*JEWELRY E & P 800-835-9195 NY [tx # deleted] $29.99
10/11/2005 CHECKCARD 1010 NUF*ACC INS 42770270 800-209-3515 NY [tx # deleted] $9.95
10/11/2005 CHECKCARD 1010 NUF*ACC INS 42770318 800-863-0641 NY [tx # deleted]$24.90
10/07/2005 CHECKCARD 1006 EASY SAVER 800-262-6199 PA [tx # deleted]$14.95
09/28/2005 CHECKCARD 0927 NCM*SAPPHIRE SET 2OF3 800-327-9076 NY [tx # deleted]$19.95
I ended up closing my account with bank of America and am much happier with my new bank. However I have still be unable to receive any refund from this company or there partner bank of America.
I?m sure that some day there will be a class action lawsuit against all three of these companies and I would love to be included.
Reference: bankofamericasux.com
I can't believe BofA is calling this proactive. They are reacting to a possible security breach! Proactive means taking action to prevent these sorts of events.
idiots.
I can't believe BofA is calling this proactive. They are reacting to a possible security breach! Proactive means taking action to prevent these sorts of events.
idiots.
You are a shame to the United States of America. Hope you fold.
You are a shame to the United States of America. Hope you fold.
- "undisclosed company" might be JcPenney
- by papabing March 29, 2006 7:42 AM PST
- An hour after we used our BofA card on JCPenney's site, BofA called us and said the card was compromised and reissued a new card.
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