Scottrade Bank Complaint: Deposits and withdrawals

#1733051 7 Jan 2016

Bank account or service Savings account

Complaint #1733051 submitted on 01/07/2016 relating to Scottrade Bank. Complaint relates to Bank account or service Savings account - Deposits and withdrawals .

Complaint was submitted via Web and sent to the company on Thursday 7th January 2016.

Narrative (may be redacted).

Scottrade had a database leak that effected nearly XXXX XXXX customers. Exposing their personal information online and allowing fraudsters to login to their online bank account stealing the money as well as selling the personal information to facilitate fraud. I was XXXX of the victims of Scottrade 's failed security and I am writing this complaint to express my concerns that Scottrade is not doing enough to assist customers who have been effected by the breach and Scottrade is also downplaying the amount of information that was exposed.

Specifically, the following problems have occurred : 1. ) Scottrade ignored Whistleblowers who had been reporting to management that their databases were not property secured and that important authentication information was not robustly secured.
2. ) The protection services provided by Scottrade are not retro-active. Thus if your account was hacked in XXXX, XXXX, or most of XXXX, you have no protection and Scottrade willfully admits that it is not providing protection for customers.
3. ) Scottrade will not clarify to me whether my Scottrade Bank account was also affected. Furthermore, Scottrade states that my passwords were encrypted and not hashed which is a very serious security concern.

This in combination with the fact that Scottrade stores your personal information is plain text makes me regret my decision to bank with Scottrade.

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