Big Problems With Online Banking : LUSENET : TimeBomb 2000 (Y2000) : One Thread

hhhhhmmmmm, lookee here, whazzat? Sumpin starting?

Big Problems With Online Banking

Big Problems With Online Banking

US Bank Records Mixed Up

PORTLAND, Posted 11:03 p.m. June 17, 1999 -- Online banking is hailed as a convenient and very safe alternative to driving down to the bank. But as KOIN 6 News found out, it may not be nearly as secure as they would like us to believe.

A US Bank customer recently tried banking online from his home. When he logged on to his account, the bank mistakenly gave him access to other peoples' accounts, too.

He asked to remain anonymous, for reasons of his own, so KOIN is calling him "Fred."

Fred is very concerned about what he found. He doesn't know who the other accounts belong to, but they are worth more than $20,000.

His curiosity got the best of him and he decided to try transferring a small amount of that money into his account -- just as a test. It worked. Fred tells KOIN he's an honest guy and transferred the same amount back.

But his big concern is all the people out there that may not be as honest. He wonders what would happen if his own accounts were to show up on a dishonest person's list.

A US Bank representative talked to KOIN. He said that mistakes like this are rare.

"What we think it the most plausible explanation is that this was a linked account problem," the spokesman said. "It's a human error. We've had only one in 4.5 million accounts."

The television station also talked with computer expert Alan Olson who says the mistake could be a programming error.

Olson says whether the mistake is made by a human or computer, US Bank may need to reexamine its system for linking accounts.

Olson and the bank agree that they need to talk with Fred in order to get everything straightened out. Fred tells KOIN he may come forward at some point, but right now he's upset at the bank's move toward online services.
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-- 2 Cascadians (, June 18, 1999


"other peoples' accounts" how many is that? $20,000 would finance how many bags of beans and rice? That little test ... hhmm. How many bankers are scrambling behind the scenes, behind their puffery? Poof!

Have you checked *your* bank account today?

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-- Ashton & Leska in Cascadia (, June 18, 1999.

BWAHAHAHAHAHA !! The BIG LIE has been injected into all public Y2K discussion to PRESERVE THE BANKS AT ALL COSTS !!

Just one little widdy bitty problem. What if the banks are not 100% REMEDIATED ?? They will self-destruct on their own. People do not like having their money disappear.

"We're sorry, but our computers are infallible. It must be your math. What kind of grades did you get in jr. high algebra, anyway? We don't have time for your puny five+dime problems. Eat it, sucker."

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-- Ashton & Leska in Cascadia (, June 18, 1999.

In Florida AmSouth is a pretty good sized bank. I have had a checking account with them for 5 years. Last year they issued a new customer account with my account number. You think that wasn't a mess? I got my bank statement and had checks in there from somebody else. And of course they got some of my checks. We got it all straightened out but what a mess. Y2k? I have no idea.

Taz... who doesn't keep much in the bank anymore.

-- Taz (Tassie, June 18, 1999.

Bardou has had some interesting experiences too. Hi out there if you're lurking! It doesn't have to be exactly Y2K Squeal to demonstrate the types of problems gushing down the pipeline. With all the patches, windows, snatches, and dashes, we all need to carefully examine the paper trail.

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-- Ashton & Leska in Cascadia (, June 18, 1999.

Or, avoid it all together!!

-- Will continue (, June 18, 1999.

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