From The BBC:
A system used by a High Street banking group to help customers who have forgotten their card Pin number has major security flaws, the BBC learns.Lloyds TSB has told Radio 4’s Money Box programme that it allows credit card customers to text requests for Pin reminders on any phone. Security experts say this could allow fraudsters to order and intercept Pins. Lloyds insisted it had adequate security measures in place to prevent fraudsters doing this. ‘Stolen’In order to request a Pin reminder, customers simply have to text ‘PIN’ and their card number to the bank. The phone does not have to have been registered with the bank for the purposes of telephone banking.
The customer immediately receives a reply text confirming the request which says if it is successful the bank will send the Pin reminder to the customer’s home address within three working days. A Lloyds TSB customer called Malcolm, from Buckinghamshire, who did not want to give his full name, believed his Pin was stolen this way…
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