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Old 10-08-15, 09:04 PM
  #61  
TimothyH
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Originally Posted by jlafitte View Post
Probably everyone here was affected by last year's Ebay data breach; 138 million accounts including login info, DOB, card info, etc. That was in Feb/March, when PayPal was still an Ebay subsidiary.

There have been numerous high profile breaches recently, many at financial institutions including Chase and Citigroup. PayPal is an especially attractive target because, as a wildly popular transaction processing service, it accesses enormous credit and cash assets. The technical requirements of monitoring all those transactions are such that a compromise could go on for weeks before it is caught -- loke what happened with Ebay.

So if your cash accounts (checking, savings, money market) linked to PayPal get emptied, you probably have a fraud claim to rely on, but you've probably also got a serious cash flow problem in the meantime. If the same crook maxes out your credit on the other hand... you see what I mean.
I work in IT. I don't do security but work with some world class security consultants.

On the enterprise side, the fact is that 99.9% of security breaches go unreported and many go unnoticed. I don't worry about the big guys so much as I do the small mom and pop shops who don't have staff or don't have the financial ability to hire a good company to do their transactions for them.

On the personal side, the number one way to get hacked remains an insider at a small business - someone at the doctor's office where they have your social security number and you use a card for the copay - this is classic. Emptying individual paypal accounts or bank accounts is common. My bank is not linked to my paypal for this reason and I don't keep a paypal balance. The only way to be sure is to manually check bank, phone and credit card statements every month and report anything suspicious immediately.

@TejanoTrackie has the right idea. They can't hack cash. I also don't do any banking on a phone.
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