HSBC Bank Breach Leaks Account Numbers and Balances

AlphaAtlas

AlphaAtlas

[H]ard|Gawd
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HSBC bank was reportedly hit by a credential stuffing attack, which allowed attackers to gain access to "full name, mailing address, phone number, email address, date of birth, account numbers, account types, account balances, transaction history, payee account information, and statement history." The attack took place between October 4 and October 14, but letters were sent to customers on November 2. The company told The Telegraph that less than 1% of their customers were affected, but notes that the banks has around 1.4 million US accounts.

"We responded to this incident by fortifying our log-on and authentication processes, and implemented additional layers of security for digital and mobile access to all personal and business banking accounts. We have notified those customers whose accounts may have experienced unauthorized access, and are offering them one year of credit monitoring and identify theft protection service."
 
Yeah. So. They can take one look at my account balance, get appropriately disappointed, and discard my account info. Ha! Ha. Heh. Ugh...that's actually rather sad.
 
ah if they have the account numbers they only need to do a google for the routing number and can make ACH's all day long fuck that id close my account and find another bank
 
kju1 said:
Why does everyone persist in thinking that the risk of someone using the data they leaked goes away after one year? Its not like your social security number or date of birth change every year...
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Because they expect you to change all your shit on your own. Not right. But, the 1 year is just some cover to help you get there. After the Credit Company Hack, I said f'it and froze my credit. It will help. But as a matter of course I will change account numbers after 3-5 years, if they haven't had to change on their own.
 
Jagger100 said:
Because they expect you to change all your shit on your own. Not right. But, the 1 year is just some cover to help you get there. After the Credit Company Hack, I said f'it and froze my credit. It will help. But as a matter of course I will change account numbers after 3-5 years, if they haven't had to change on their own.
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You cant change your birthday. Also your SSN is not easy to change, typically the government will not allow you to change it in this case unless you can prove it was stolen AND is being used.

The SSA may assign a new Social Security number to you if you are being harassed, abused, or are in grave danger when using the original number, or if you can prove that someone has stolen your number and is using it. You must provide evidence that the number is being misused, and that the misuse is causing you significant continuing harm.
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https://www.consumer.ftc.gov/articles/0248-do-you-need-new-social-security-number
 
Elios said:
ah if they have the account numbers they only need to do a google for the routing number and can make ACH's all day long fuck that id close my account and find another bank
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Actually that has been one of the things that always puzzled me about checks. They have both of those numbers on there. Yet there was never a rash theft of money from that.
 
Exavior said:
Actually that has been one of the things that always puzzled me about checks. They have both of those numbers on there. Yet there was never a rash theft of money from that.
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Actually there was/is. Its called check fraud, though I am not sure if doing it via EFT/ACH is still check fraud but knowing the govt I bet it is. There were several notable high profile cases of check fraud a few decades ago. They got really good at tracking it down and prosecuting people. Now you have new types of check fraud such as where the fraudster sends you a check and when you cash it they withdraw all your money...
 
The only bank I trust is Schwab. A buddy of mine works IT over there and confirms their shit is next level. I use a well known dog and pony show bank close by for convenience with just enough funds to pay bills. You may have heard of them, they get busted about once a year for running embezzlement schemes on their clients but no one ever goes to jail for it. One of these days I need to motivate and switch over to the local credit union with a better rep. I also keep locks on my credit and toss out my credit cards every 6 months or so, keeps businesses from auto renewing on me as well.
 
its funny.. we laugh at stories of people stuffing their money into mattresses for security

Maybe they are not wrong

:unsure:
 
I've heard Schwab customer support is great (compared to say Vanguard)...but now I'm thinking that whole post by PeaKr was satire, so probably whoosh on my part lol.
 
I locked down all my credit files and get email notifications for every transaction. I let the bank know I spot something that's off. I do the same for Amazon/New Egg. I've been clean for over 10 years now on invalid purchases.
 
Mav451 said:
I've heard Schwab customer support is great (compared to say Vanguard)...but now I'm thinking that whole post by PeaKr was satire, so probably whoosh on my part lol.
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If you want to do standard banking, knock your self out.

But their fund management fees, nickle and dime fees are excessive. In my portfolio, it quite literally means lost millions in my retirement compared to vanguard. I left them long ago after my portfolio manager did consistently worse that the market average before fees. He really pissed me off with a "play fund" he recommend which had a 1.5% management fee as well as a 10% up front, which I got charged for twice. That was my mia culpa. In 5 years, I had to take a net loss on a high risk fund. It never really made much of a profit. I think the most was 5% at one point before it took a huge loss and stayed below that for the next 4 years.

When I read the article about certain investment firms were getting kick backs for steering particular funds, and got sued for failing to disclose that information, I just fumed.

And if you think about it, all those pretty store fronts cost a lot of money. Your adviser is responsible for maintaining the cost on that store front. They have to pay for them somehow. Remember their "advisers" are not fiduciaries where they are legally bound to represent YOUR best interest.
 
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Imagine if the bank had a legal duty to protect your data and that, in the event of a breach, you were entitled to your entire account amount from the date of the breach to the present date (whichever date had the greatest amount) PLUS a 100% penalty, paid by the bank?

If I had $9,000 in my account on the date of the breach, then 3 weeks later had $11,000, I would be able to withdraw/transfer that $11,000...PLUS another $11,000 as a penalty.

(That prevents the bank from saying that the breach caused a change in balance and leaving you with less.)

I'd bet a system like that would soon see the banks safeguarding my account information a bit more responsibly. (Notice how used "safe" and "account" in the same sentence? Almost like banks are supposed to keep my money in a safe.)

Just a thought...
 
c3k said:
Imagine if the bank had a legal duty to protect your data and that, in the event of a breach, you were entitled to your entire account amount from the date of the breach to the present date (whichever date had the greatest amount) PLUS a 100% penalty, paid by the bank?

If I had $9,000 in my account on the date of the breach, then 3 weeks later had $11,000, I would be able to withdraw/transfer that $11,000...PLUS another $11,000 as a penalty.

(That prevents the bank from saying that the breach caused a change in balance and leaving you with less.)

I'd bet a system like that would soon see the banks safeguarding my account information a bit more responsibly. (Notice how used "safe" and "account" in the same sentence? Almost like banks are supposed to keep my money in a safe.)

Just a thought...
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Banks havent stored your money in a specific safe for a very long time. Banks never carried enough cash on hand to satisfy ALL accounts at that bank. They only carry the legal minimum.
 
kju1 said:
Banks havent stored your money in a specific safe for a very long time. Banks never carried enough cash on hand to satisfy ALL accounts at that bank. They only carry the legal minimum.
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Yes. The minimum is based on a maximum leverage they are allowed to have.

I forget what the rules are right now Frank Dodd is being rolled back. But at one point banks can leverage out over 80% of their funds on the market. That means if you have $1,000 in there, $800 can be tied to outside market products. Any money THEY make with your money on stocks/bonds/securities goes in their pocket NOT yours. That's how banks make their money. (Along with fees on smaller accounts) This is how credit houses and banks have grown so strong, but investing in riskier portfolios, and with more leveraging. And this is what lead to the great recession in 2007/2008.

If you want a safe place to put your money, invest in municipal bonds in trust worthy cities/states. They are tax free and still make money. Or invest it in commodities like gold, which is unstable, but generally trends upward slowly over the long term.
 
That bank are such a nightmare, i wouldn't touch it with a red hot poker, and i wish they and others was banned from doing business in my country.
 
Except at the branch which holds some Trump accounts. Nothing leaked out there.
 
My debit card was compromised last month. And i'm sure it was from some breach. Also all these breaches make it easier to get scammed
 
Back in the day...the LONG AGO day...banks would have vaults. The vaults would be KEPT OPEN. You could walk in, look into the vault, and SEE YOUR STASH. Sure, fractional banking was just a dream, as was fiat currency.

Coin of the realm ruled it all.
 
c3k said:
Back in the day...the LONG AGO day...banks would have vaults. The vaults would be KEPT OPEN. You could walk in, look into the vault, and SEE YOUR STASH. Sure, fractional banking was just a dream, as was fiat currency.

Coin of the realm ruled it all.
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Yeah like over a 100 years ago...
 
c3k said:
Back in the day...the LONG AGO day...banks would have vaults. The vaults would be KEPT OPEN. You could walk in, look into the vault, and SEE YOUR STASH. Sure, fractional banking was just a dream, as was fiat currency.

Coin of the realm ruled it all.
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Where on earth did you get this idea? They always took your assets and reinvested them into something else. Why do you think banks offered services? How did they pay for operations? Out of charity and good will?

Modern day trading platforms are slowly but surely replacing the need for banks except for day to day trading activities and loans. Why give free money to the banks when you can do the same thing the banks do and earn an average of 7% over your lifetime?
 
DigitalGriffin said:
Where on earth did you get this idea? They always took your assets and reinvested them into something else. Why do you think banks offered services? How did they pay for operations? Out of charity and good will?

Modern day trading platforms are slowly but surely replacing the need for banks except for day to day trading activities and loans. Why give free money to the banks when you can do the same thing the banks do and earn an average of 7% over your lifetime?
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Back before paper money...
 
kju1 said:
You cant change your birthday. Also your SSN is not easy to change, typically the government will not allow you to change it in this case unless you can prove it was stolen AND is being used.

https://www.consumer.ftc.gov/articles/0248-do-you-need-new-social-security-number
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Not really saying its a solution, but it's their solution and it does suck. The correct solution is them buying you insurance to cover possible fraud that ticks down over time. Like $100,000 that drops a tick at a time.
 
Exavior said:
Actually that has been one of the things that always puzzled me about checks. They have both of those numbers on there. Yet there was never a rash theft of money from that.
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its more of an issue then you think
 
HSBC is a bank that has deep roots with the drug trade since its creation (opium trade to China), some of its latest drug "oopsies" included hefty fines that actually were worth like one week of earnings, so my tinfoil hat tells me that the breach was an attempt at tracking the drug money going public.

(they were found changing the dimensions of their bank windows in Mexico to do a solid to the Sinaloa cartel since the cartel's money boxes were bigger than the bank's item slots, sounds crazy and yet it's true)
 
Revdarian said:
HSBC is a bank that has deep roots with the drug trade since its creation (opium trade to China), some of its latest drug "oopsies" included hefty fines that actually were worth like one week of earnings, so my tinfoil hat tells me that the breach was an attempt at tracking the drug money going public.

(they were found changing the dimensions of their bank windows in Mexico to do a solid to the Sinaloa cartel since the cartel's money boxes were bigger than the bank's item slots, sounds crazy and yet it's true)
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Some of these companies should finally get classified as "people" - It'd make it a lot easier to classify them as enemy combatants or terrorists in that case.
 
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