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Bank of America Update: The Bank That Cares Less? (Part Two)
We present the second part of investigative reporter Clark Dark’s findings about the “illusion of security” at America’s leading banking institution. Just how secure is your money at Bank of America? Clark?
I’m Clark Dark here to continue with the facts our sources have discovered and revealed to us about Bank of America
Bank of America’s Extreme Insecure Banking Practices
Many of Bank of America’s extreme worst insecure banking practices are so obvious and traditional they go without notice. Consider
1) In this day and age of encryption Bank of America continues to print account numbers, routing numbers and names and address on checks, making this security information available to whomever wants to run to the local stationary store to buy or print checks to take money from your account. The info on your check should be digitalized and encrypted, that way no one, not even the merchant can copy it. Perhaps the only security should be your picture.
2) Likewise Bank of America has your credit card numbers, security numbers and date of expiry number clearly visible on all credit and ATM/debit cards. This is extremely dangerous and unnecessary in an age of encryption.
Everyone worries about Internet safety. Bank of America’s current practice allows anyone on or off the Internet with a merchant account, your name and address and your credit card imprint or credit card info or checking account information to make charges and take money out of your our account at any time.
3) Bank of America does not even use the security of library cards. Local library cards have bar coded information on them. No names, no identifying information comprehended by the human eye, just some lines that are read by a special device designed to read bar codes. Why can’t Bank of America, America’s leading banking institution at the very least do the same for our account information?
In 2006 the crime of identity theft was nearly 50 percent of the complaints filed with the Federal Trade Commission.
One reason identity theft is increasing is that in the dubious efforts made to prevent identity theft banks, utility companies, and retailers are requiring customers to give more and more personal information. Every time a customer is required to give up their personal information they are trained to provide their information when requested. This in itself is a security leak.
Every time the customer gives up their information whether driver’s license, social security, check or credit card, they have given up the info to one more company or one more person and created one more opportunity for that information to be distributed. If the goal is security then this information should be given out very rarely. There would be less identity theft if you did not have to verify your identity, if your credit card and identity information was encrypted.
We think maybe Bank of America is complicit in its officials’ complacence about preventing this crime. We believe BOA executives are negligent by not using this very easy, very simple, DUH–why-didn’t-I-think-of-this-before solution to one aspect of the fastest growing crime in the nation. These are facts to make the consumer say, “Hmmmmmm….why aren’t they protecting my money?”
Breaking News:
Rumor has it, and if true, then we commend Ken Lewis for implementing what our sources tell us is a new program whereby Bank of America will refund excessive fees charged to past and current customers.
But we ask, “Yo! Ken, dude! When you gonna close the electronic front door of this bank? What? You say everything’s flowin’ into your side just fine. It’s all secure on the BOA side. Well Kenny, dude!…the money’s leakin’ out on the consumer side and if ya don’t find some way to fix this problem… it will soon be hemorrhaging out from the BOA side!”
Bank of America “The Bank That Cares†or “The Bank That Cares Less†?
You decide.
I’m Clark Dark investigative reporter for YouThinkWhat.
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