British bank changes “pants” password

By Mark O’Neill
Contributing Writer, [GAS]

Here’s some food for thought if you think your online banking password is securely hidden from curious eyes at the bank.

A British banking customer, Steve Jetley, phoned up his bank (Lloyds TSB Bank) and discovered that his password “Lloyds is pants” had been changed to “no it’s not” by a bank employee.   He had made this password after having an argument with the bank over insurance.

He was then told he was banned from changing it back to “Lloyds is pants” or to another password such as “Barclays is better” (Barclays is a rival bank).   He even tried the word “censorship” but the bank employee refused that one too on the grounds it was too long.

Lloyds claims the employee has now been fired and Mr Jetley has received a full apology.   But this incident makes you wonder how many bank employees actually have full unrestricted access to your online banking password.

BBC News via Schneier on Security