Ripe for Disruption: Bank Authentication

One thing that still drives me crazy, and doesn’t seem to have changed with banks, is they way they handle fraud detection with the customer. Their sophisticated algorithms detect fraudulent activity, they flag it, suspend the card, and give you a call, leaving a message identifying themselves as your bank and asking you to call …

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The Bangladesh Bank Hack, Part XIV

Lots of attention at the moment on the implications of the Bangladesh Bank hack, now four months old. This is a piece I contributed last week. Quite a bit of water has gone under the bridge since then. We not only don’t know who was behind the hack – North Koreans have been put somewhere …

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Elitism’s Big Security Hole

You would expect that if you choose an elite, premium product or service that it was more secure than its lesser, bog standard one. But after an incident today I’m not so sure. I happen to have a fancy premium account at my bank. I didn’t really want it, and object to such things on …

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Cash With a Human Face

Here’s a useful innovation for foiling scammers stealing money from ATMs with their heads covered to avoid identification: a system which “can distinguish between someone whose face is covered or uncovered, and only grant access to those who bare their faces.” No face, no dosh According to Taiwan’s Central News Agency (no story URL available; …

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Worm Hits Diebold’s Windows ATMs

It’s not happy days for Diebold, the company behind ATMs and electronic voting. Its e-voting machines have been the source of much controversy — earlier this month it withdrew its suit against people who had posted leaked documents about alleged security breaches in the software. Now its automatic teller machines have been hit — by …

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News: When An ATM Isn’t An ATM

 From the These Thieves Are So Smart, Why Can’t They Get A Real Job Dept comes a story about ATMs. The Canadian Press reports of a scam in Ontario where the bad guys have rigged a number of existing bank machines allowing them to make working copies of customers’ debit cards by putting on a …

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