Canadians Are Saying Banking Passwords Aren't Secure Enough, Here's Why - Narcity

Canadians Are Saying Banking Passwords Aren't Secure Enough, Here's Why

Some aren't even case sensative

Earlier this week BMO and CIBC's Simplii were hacked by fraudsters who potentially got hold of thousands of customers' information. 

Since the hack Canadians are being more vigilant about changing their passwords and protecting their accounts, but some are saying that the banks won't let them be more secure. 

Via Wikimedia

As most people know from trying to create any kind of account on the internet, the best passwords are at least 12 characters long, have a combination of capital and lowercase letters, numbers, and special characters. 

In a Reddit thread though, Canadians are saying their banks don't let them make secure passwords like those for their banking profiles. 

People are complaining that TD allows them to only set an eight digit password and others saying that their TD passwords aren't even case sensitive, making capitalization irrelevant. 

BMO, one of the targets of this week's hack, is apparently even worse with customers alleging that they are only able to make a six digit password with no special characters. 

Another complaint on the thread is that four digit pins for credit and debit cards are too short and easy to decipher. 

@oliverkc13embedded via  

With online banking becoming the most common method for Canadians and hackers getting smarter, it may be time for the big banks to re-evaluate their security. 


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