Could the unthinkable happen as reagrds bank hacked and all account details lost?

justaquestion

Hi folks,


This thought crossed my mind this week in light of the seemingly huge cyber attack on Talktalk.


Is there an absolutely zero chance that a bank's system could be hacked with all details of accounts lost so that the bank would have no details whatsoever of how much money (if any) a customer had in their account? You can imagine the doomsday scenario this would bring.


I would like to think that this could never happen, that somehow there are hard paper copies of everyone 's account, and that there are sufficient backups of all banks systems to make the above totally impossible.


Just wondering

Eliza_2

I'm sure the banks would say that they have so many systems in place that if the worse happened, they've got it covered. Belt and braces. Infallible.

However I have little faith. I used to bank with NatWest and around 18 months ago I decided to check my balance via my iphone app during my coffee break at work. I logged in as usual and was surprised to see a couple of transactions that I didn't recognise. When I looked further, I realised I didn't recognise any of the transactions at all, nor the account number, and was in fact looking at someone else's account. I so wish I'd taken a screenshot but I was so shocked that I closed the app. When I logged in again, there was my own account all normal with expected transactions.

I closed the account shortly after that. Someone else could have seen mine too, and worse, could have used it to do all sorts of stuff.

And if you work for Edinburgh University, and make regular purchases from a well known chain of fast food restaurants etc, then that was you, that was.

So whatever they would say, I don't trust they can ever have every eventuality covered. I have now gone back to paper statements, which feels retrograde but at least I have a record. (Along with my own records)

donnac2558

Last year when the major problem arose with Bank of Scotland and Ulster Bank. Many convinced they had been hit with a hack.

Eliza_2

................and right on cue................

http://www.bbc.co.uk/news/business-34631555

Nick_C

For any mission critical system like this, the data will normally be mirrored - it will be written to two different servers at the same time in different locations. Additionally, the databases should be backed up and transaction logs should be used. If a database becomes corrupted, it can be restored from back up and the transactions reprocessed from the log.

Without mirroring, you might lose a couple of transactions. With mirroring, you shouldn't lose anything.

bundly

I opted for paperless statements ie only online. However my friend asked me a few days ago, how would I prove how much I have in my bank account if the system crashes.

I'm getting paper statements again!

Nick_C

bundly wrote: »

I opted for paperless statements ie only online. However my friend asked me a few days ago, how would I prove how much I have in my bank account if the system crashes.

I'm getting paper statements again!

Can't you download your statements as PDF files?

Oblivion

bundly wrote: »

I opted for paperless statements ie only online. However my friend asked me a few days ago, how would I prove how much I have in my bank account if the system crashes.

I'm getting paper statements again!

I've never cancelled my monthly paper statements despite doing all my banking online, for that very reason. I'm no luddite but when it comes to my money I'm taking no chances.

LadyDee

Nick_C wrote: »

For any mission critical system like this, the data will normally be mirrored - it will be written to two different servers at the same time in different locations. Additionally, the databases should be backed up and transaction logs should be used. If a database becomes corrupted, it can be restored from back up and the transactions reprocessed from the log.

Without mirroring, you might lose a couple of transactions. With mirroring, you shouldn't lose anything.

That's an awful lot of "shoulds", together with a "normally". I bank on the internet but have also opted for paper statements. I'm not quite confident enough in the security of any system to dispense with something in print:)

barmonkey

There is currently an American TV series on Amazon called Mr Robot, in the program there is a plan afoot to hit all the main banks and all the mirrored sites with the intention of wiping out all credit and debt records,
interesting viewing.

agrinnall

donnac2558 wrote: »

Last year when the major problem arose with Bank of Scotland and Ulster Bank. Many convinced they had been hit with a hack.

I guess someone who doesn't know which banks were involved (Royal Bank of Scotland, Nat West, Ulster) may well be taken in by ridiculous conspiracy theories.