werasex.blogg.se - Download venmo plaid

If (when) they are hacked it will be devastating, since the worst case scenario means the leaking of millions of user's active bank usernames and passwords. On the other hand, maybe Plaid’s reputation is held up only by the fact that they haven't been hacked yet. Maybe Plaid has some special access to banking systems and it isn’t as bad as it seems.

This makes me think that I might be missing something. It appears that banks aren’t against this bad practice, and are, in some cases, actually encouraging it. But apparently some of them are investors! On Plaid’s website Citi, American Express, and others are listed as investors. I would think with Plaid using bank logos to make their “fake” bank login forms look legitimate, banks would be after Plaid with lawsuits.

None of them are scams they're all providing a valuable service and have a solid reputation. My confusion here is that all of these services are "legitimate". If it's not possible to do it securely, should it be done at all? But I'm not convinced that's justification for breaking them. The problem seems to be that most banks do not provide an API to retrieve customer data, so a service like Plaid (and all the services that use Plaid) simply wouldn't be possible without breaking these "fundamental" security rules. The only way for Plaid to access bank account details is with the password, and since my banking password was only required by Plaid once, they must be storing it in plaintext, or "encrypted" but convertible to plain text, so they can continue to use it to access my account. Worse still, Plaid provides a login page that looks very official, showing the bank logo and using the bank’s color scheme. It’s not possible for casual internet users to tell the difference between this and an “unsecured” form on some random website, so this appears to be encouraging bad security practice. Even worse, Plaid allows services to embed the form in their websites (as an iframe). Plaid doesn’t do this, instead providing the login form on their own website. The standard is to redirect the user to a login page on the website of the service providing the login.

Never give credentials to a third party.

In addition to, plenty of other popular services use Plaid, including Venmo, Robinhood, and Coinbase.ĭespite the popularity, this service appears to break two "fundamental" Internet security rules: Plaid provides an API for websites and apps to easily access this banking information. Then, Plaid accesses the user’s bank account with those credentials on the user’s behalf to get information. To do this, it requires the user to provide their banking username and password to a webpage from Plaid, not their bank.

I recently signed up for, which uses a service called Plaid to link a bank account.