this post was submitted on 11 Apr 2024
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My friend worked in fintech for awhile and the stories he told me absolutely frightened me.
For banks, if it isn't broke, don't fix it. If it is broke, run a cost-benefit analysis...does it cost us less in losses each year than it would to overhaul/fix? Then also don't fix it.
The code bases he had to deal with were absolute garbage apparently with hokey patch upon hokey patch.
He discovered a password validation issue (for a bank I used to bank at...) but essentially you could have a close but not exact password entry and still be let in. It took them like 6mos to fix it because it wasn't really being abused.
Just absolute madness.