Right now banks don't have that much security around checking accounts. Generally speaking, their losses are pretty tolerable.
If there's someone who stole her password through surreptitious means, there's nothing [Hilton] could do.
[Indeed, consumer financial fraud has been around as long as checking accounts and credit cards, and banks already do plenty to stop fraud. But e-commerce has opened virgin criminal frontiers.] In the past, everything was much more traceable, ... Now you can open 10,000 (bogus) accounts in the time it used to take to open one, all in a faceless Internet.
It's going to put an enormous dent in online marketing.
The whole system is pretty rotten from start to finish and they really need to tighten up. There's very loose access control over who can get credit reports.
Consumers don't trust most of it.
They are an agile company, and they have made a decision that they are not going to provide top-notch service to anyone who is not a business-class customer.
Consumers are being targeted directly, while their personal data is being attacked on corporate servers. It's a 360-degree threat.
It has very far-reaching implications.
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