At 03:44 PM 1/17/97 -0600, Igor Chudov wrote:
It is my understanding that an ordinary banking consumer that uses "pay bills by phone" service cannot transfer $$ to any arbitrary account. There is a limited list of permitted accounts, such as utility companies. Therefore, the risk of unauthorized transfer is very limited.
It is limited, both accounts have to have the same password, (four character, numeric.) If I want to transfer funds from another persons account to one that I control, all I have to do is change the password on one of them to that of the other, transfer funds, and change the password back. By the time that my victim found out, (via the little letter "per your request, $xxx was transferred to accnt#123456 from accnt#7890"), I would be long gone.