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Bank Of America’s Newest Product To Protect Your Money Not So Secure
Here’s news you Bank Of America customers can use, if there are any of that vanishing breed left, especially if you regularly bank online.
In keeping with its image, BAnk Of America, “the bank that cares”, presents its newest security product called SafePass® which promises to be “Bank of America’s strongest protection in guarding against Online Banking fraud and identify theft.” BoA’s strongest protection to guard against fraud and identity theft is like using a condom with a hole in it. Since they are selling identity theft protection it makes sense they’d offer an innovative product that would increase the reason for purchasing an ID theft protection program.According to information found on the Bank Of America web site , “With SafePass, you get a 6-digit, one-time passcode sent as a text message1 to your mobile phone or generated from a convenient wallet-sized card2. ” (sic)
This is the part that solidifies the stringent precautions Skank of America is taking to protect your money and your privacy:
“Since the passcode is sent privately to your personal device, you get an unrivaled extra layer of security when authorizing sensitive transactions (Note: the code is temporary and expires as soon as you use it). With this convenient added layer of protection for Online Banking, you can be confident that only you are authorizing new payees in Bill Pay and adding new accounts for online transfers. SafePass also enables transfers with higher daily and weekly limits as well.”
Aside from the fact sending a passcode or any other sensitive private information to a cell phone is not advised by experts, there has recently been publicized a new way to gain illicit access to web sites that are using Secured Socket Layer protection.
Once again Bank Of America provides the answer to the question asked by Virginia Hammerness, the granddaughter of its founder, “What kind of idiots are running that bank?!”
We’ve observed they are the kind who once they get your money, treat it like it’s their own, because it is!
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