News for hackers. Stuff that matters.
Re:Senators push to ditch social security numbers in light o... by semi-extrinsic on Thursday November 09, 2017 @12:58AM (#15660231)
To be fair, people didn't withdraw funds, someone was able to set up a recurring transfer (direct debit) from his account to a charity. Which makes it useless for theft, since the thief would leave definite proof of their identity (receiving account number).

The best part, I think, is Clarkson's response:

Clarkson now says of the case: "Contrary to what I said at the time, we must go after the idiots who lost the [personal information] and stick cocktail sticks in their eyes until they beg for mercy."

Re:Senators push to ditch social security numbers in light o... by jandrese on Thursday November 09, 2017 @01:37PM (#15664680)
Bank fraud frequently requires the crook to supply an account number to transfer the funds to. This is not a problem if the only activity on the account is:

1. Opened with a fake identity

2. Stolen funds received

3. Stolen funds transferred to a bank with (intentionally) poor record keeping, potentially bouncing around a few more times.

Wire transfers seem to be a big hole at the moment.