Fly by the pants sites like this are often where user names and passwords get stolen from, then used on other accounts to try to get into them. You use an email and password on this site and use the same one on your bank site, the thieves now have your info without ever having to battle security of a proper setup. When accounts get stolen it is very rare to come from a company with proper security staff, it's usually from someone falling for a scam or some other site they have info in that is not well ran the account is taken from and then it's just a matter of trying a bunch of known sites with that same account to see if it works. This is why it's recommended not to re-use passwords at multiple sites.