Back in March of 2010, HSBC had a huge and embarrassing data breach where an employee resigned and stole details on the bank’s private operations in Switzerland. Around 24,000 accounts were compromised in that theft, and more than 15,000 of those accounts are still active. Although HSBC Bank claimed that the stolen data could not be used to access accounts, a data breach is a data breach and the manner in which it happened was suggestive of lax security on the spot. An investigation followed the incident and HSBC bank invested in better security in their Swiss office.
This time, HSBC bank customers had a deja vu when HSBC bank reported that another employee has pulled off the same stunt (resign, steal customer records and walk out) in California. The information contains HSBC Bank customer account numbers, account types, phone numbers and names. HSBC bank has also sent a letter to its customers, an excerpt from which reads:
If you find suspicious activity on your credit reports or have reason to believe your information is being misused, call or contact your local law enforcement and file a police report. Get a copy of the report; many creditors want the
information it contains to absolve you of the fraudulent debts. You also should file a complaint with the FTC at www.ftc.gov/idtheft or at 1-877-ID-THEFT (877-438-4338). Your complaint will be added to the FTC’s Identity Theft
Data Clearinghouse, where it will be accessible to law enforcers for their investigations.
Although the data breach took place last Saturday, HSBC Bank did not report it before this Tuesday. As remedial measures, HSBC Bank is offering one year of subscription to ITAC Sentinel, a credit card monitoring service. But will that make existing customers feel any safer?
Finally!!! The largest bank in America; Bank of America has finally got a feature to remotely deposit checks to your bank using your Android device. Several other banks already had this feature for a while, but the latest update for Bank of America, which was rolled out today, now allows users to deposit checks using their mobile phones or tablets.
While several other banks like Chase already had this feature for ages, BofA was the only bank which did not have it. Today’s update to the Bank of America app adds the following features:
– Make check deposits
– Choose the BankAmeriDeals™ you want, and earn cash back
– Receive Bank of America Alerts as push notifications
– Securely send money to others, using their mobile number or email address (requires enrollment)
I am definitely happy with this update because it was definitely becoming a pain lugging around those checks to an ATM or bank branch just to deposit. Finally, I can now deposit checks to Bank of America while I am lazing around in my house.
You can get the latest features by updating the app on your device or by download it from Google Play.
It looks like one of the largest banks in United States; Bank of America is facing a massive outage on its online website. The outage is causing its customer to freak out as it is not allowing them to log in.
Loads of users on Twitter are complaining about the outage. Users are shown a splash screen when they visit the website http://www.bankofamerica.com and clicking on the Login button displays the following message;
Online Banking is experiencing temporary slowed system response. While we are resolving the situation, we want to help you get to where you are going:
Clicking on the "Continue to Online Banking" link takes you to a website which is down. It is not clear as to whether the outage is a system problem or whether they are under a mysterious attack. Bank of America has seen outages in the past which were not an attempted DDoS by the Anonymous group.
We will update the story once we have more information.
Mobile Internet is catching up with Indian users at a rate which Desktop internet has not been able to match yet. According to a recent report, the Indian youth finds mobile Internet as one of their favorite pastimes.
Given the massive growth of Mobile users in the country, The National Payment Corporation of India is launching an instant mobile payment service (IMPS) that will enable retail customers of seven banks to enjoy inter-bank funds transfers – 24 hours a day & 7 days a week.
Soon, Long queues of customers at bank branches to transfer money may become a thing of the past. If IMPS catches up with the users like Facebook did, then in the long run, customers may not have to worry at all for change to pay auto/ taxi fare and the neighbourhood vegetable vendor. The mobile phone will take care of everything.
As of now the seven banks which will be able to provide it’s customers with IMPS are State Bank of India, Bank of India, Union Bank of India, ICICI Bank, HDFC Bank, Axis Bank and YES Bank.
Apart from these 7 banks, 22 more banks are in the preliminary phase of getting ready to provide their customers with the IMPS. Utmost care has been taken to make sure that the mobile banking application runs on all handsets – be it low-end or high-end.
Image Courtesy Varunverma.org
Continuing their strong efforts to promote online shopping, eBay India now supports 27 new net-banking options in addition to the three options which were provided earlier – ICICI Bank, HDFC Bank, and Citibank. This is in addition to the Credit Card/Debit Card/Cash Card options. The complete list of supported banks is given below (in alphabetical order):
Bank of Bahrain and Kuwait
Bank of Baroda
Bank of India
Bank of Maharashtra
Central Bank of India
City Union Bank
Development Credit Bank
Indian Overseas Bank
Karnataka Bank Ltd
Karur Vysya Bank
Lakshmi Vilas Bank
Oriental Bank of Commerce
Punjab National Bank
Shamrao Vitthal Co-operative Bank
South Indian Bank
State Bank of India
Union Bank of India
Yes Bank Ltd.
Addition of more net-banking options was always requested by the eBay.in community. In a country with 40+ banks (excluding co-operative banks), providing net-banking option for just 3 of them was something really serious to be taken care of. And now, it’s done.
Picture credit: Cheon Fong Liew