Two Canadian banks say accounts compromised: CIBC 40,000 and BMO 50,000

Re:Two Canadian banks say accounts compromised: CIBC 40,000 ... by jeromegv on Monday May 28, 2018 @10:58PM (#17176149)

What I don’t get is that tangerine was originally ING Direct. Which was a new bank that just started in Canada toward the end of 90s or early 2000s. How did they end up with a COBOL system?

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Re:Two Canadian banks say accounts compromised: CIBC 40,000 ... by Scoundreller on Monday May 28, 2018 @11:51PM (#17176345)

ING Direct's parent, the dutch ING, fell on hard times during the 2009 recession.

So ING sold it off to The Bank of Nova Scotia (BNS).

Canada's bank-friendly anti-consumer policy meant that ING Direct had some value, and BNS coughed up the most cash.

They were only allowed to use the orange ING branding for a few years, so they changed it to something that was borderline familiar: an orange fruit.

BNS probably had to, or chose to, switch ING clients over from the Dutch back-end to their Canadian one.

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Re:Two Canadian banks say accounts compromised: CIBC 40,000 ... by jeromegv on Tuesday May 29, 2018 @08:11AM (#17178364)

6 character limit was already there during ING Direct years. Possible they were using the old Dutch systems but i find it a tad surprising, they would have needed to set it up from scratch in Canada (as I don’t think anything was stored in Netherlands). So they purposely setup an old-ass system in the 90s. What a shit show

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Re:Two Canadian banks say accounts compromised: CIBC 40,000 ... by graeme on Tuesday May 29, 2018 @09:23AM (#17178888)

Plausible, but they had six digit codes from the beginning.

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