Banks To Customers: You Have To Pay For Phishing

Good article in Australia’s BRW Magazine about phishing and banks. It makes some important points, not least that banks are still trying to talk down the problem while at the same time passing costs and risk onto the customer: Banks are desperate to assure their customers that internet banking is safe. But their actions are not …

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Phishers Force UK Banks To Delay Transfers

Another sign that phishing is taking its toll on the quality of service banks can offer online customers: The Times reports that UK banks are introducing delays in intra-bank payments to try to combat fraudulent transfers caused by phishing attacks: This week Barclays introduced a one-day delay for transfers. A spokeswoman said: “This delay enables us …

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Phishing Pushes Banking To Impose Transfer Limits

Internet banking takes another knock with news from AP that Germany’s biggest retail bank Postbank has imposed an online transaction limit . Germany’s biggest retail bank, Postbank, said Monday it was imposing a euro3,000 (US$3,860) limit on online transfers in an effort to protect customers against e-mail “phishing” scams. The bank, which has 11.5 million …

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Internet Banking And The Threat From Within

Saw a chilling presentation today from Fabrice A Marie of FMA-RMS at the Bellua Cyber Security Asia 2005 conference in Jakarta. Fabrice talked about Hacking Intenet Banking Applications, something he does for a living on behalf of banks around the region. Bottom line: They’re easy to hack. Of 15 banks’ application assessments he worked on …

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A Glimpse Of The Internet Banking Future?

One bank in my town has stopped offering Internet banking, and suddenly I feel I can see the future post-phishing. Of course, the bank is not saying it’s abandoning Internet banking. Nor is it saying that the fact that now customers have to dial into a modem in the bank to access their account is …

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The Phishing War Escalates

The guys at Netcraft, a British security consultancy that has done a good job of tracking, exploring and warning about phishing, say they’ve come across the first case of cross site scripting being used in the wild for phishing purposes. This isn’t as arcane as it sounds, since it allows phishers to make their lure …

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Banks, Phishing And A Dereliction Of Responsibility

Online commerce suffers from one major flaw: It’s online. That means we need to use computers (or computer-like devices, such as cellphones). It means we need to use the Internet. Together this is a lethal cocktail. And for online banking, it just may mean it is fatal. Online banking, for example, is not like using …

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Phishing Takes Its Toll

Is phishing beginning to take its toll on banks? It’s been my belief for some time that this is, or would be, the case. Banks have seen the Internet as a cash cow and have been over-eager to milk it without realising that it’s not just a way to grab more customers and slice overheads. …

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Banking Sites And The Popup

Here’s one of those moments when you wonder whether banks have yet got on online security. The Melbourne Age, reporting from the birthplace of phishing, reports today that customers of Australia’s Westpac bank are getting flummoxed by the appearance of a new pop-up window on its Internet banking page. The pop-up, according to one user, …

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