this post was submitted on 19 Jul 2023
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Just adding that financial institutions are very hesitant to adopt new technology, and therefore tend to abide by what tech enthusiasts would consider antiquated best practices.
Source: Software engineer in Fintech
Yup, that behavior is notorious with financial institutions. Using old and archaic programming languages and systems that they are too afraid to touch because they don't know how to rebuild it if it crashes. What I do is use passphrases for cases like that, so I can easily type them myself as a last resort. I just check my password manager quickly and then manually enter the password.
Whats that? I cant hear you.
Can you say it again, but in COBOL?
Sure, but the NIST documents referenced in the post are admissible in court. With some creative thinking you can probably help a criminal break your weak password and then put the liability on them because if their webform was correct yoy would have pasted a strong password from your manager.
Only, last month Treasury Diirect finally removed the virtual keyboard as the only means of password entry π
I don't believe their passwords are case sensitive yet.
Can confirm. Source: cyber security analyst in fintech
Well, because it works "well enough" right now. Changing it is a monumental effort because they're such slow ass big stupid companies anymore.
And when they fuck it up, and they will, no one wants to be the reason for it so it never happens