Comment by FabHK
16 days ago
> Don't give out your account numbers
Is that a US thing? In Europe, companies have their account numbers on their letter heads and websites, and people are quite comfortable giving out their account numbers.
https://www.quelle.de/service-hilfe/bezahlung-finanzierung/k...
That's strange because all you need for direct debit authorisation is the account number and name, and a PNG image of a physical signature.
In Japan, that authorisation needs to come together with an official certification, something that’s only valid for 3 months and you have to get it yourself from the local justice branch office.
Why don't we see more fraud using this technique?
That’s definitely not the case in Europe. There’s no way to start a debit operation out of my account other than:
1. Something electronic that kicks of the thing where I need to enter the “ID codes” from device or app; 2. Being present at the bank and having been ID’d;
There definitely is, that’s how SEPA direct debit works.
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So I can walk to a bank, speak to the teller, and withdraw from any account number by showing them that signature? I think not
Surely just knowing someone's account number can't be enough? Sweden's biggest bank uses your national identification number (equivalent to social security number) as your checking account number, and Sweden's national identification numbers are public information.
I don't know how it works in Sweden. Some accounts have more security. In the end if I know the right numbers (which may not be your national ID) I could drain your bank account - but I would be caught if I tried so even hardened criminals won't attempt it.