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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Wiretapping Your Way Into Credit Card Fraud

If you think the Internet is a scary place for stealing your sensitive bank data, try your local gas station. The Star Tribune in Malaysia reports that criminals there are increasingly intercepting the transmission of credit card data between the point of sale machines that swipe your card and the bank. This data, incredibly, is …

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Phishing And The Future Of Banking

Could phishing kill off online banking?   Probably not, but it’s likely to force greater regulation by central banks and others which will, reckon British-based Internet security consultants mi2g, mean “the next generation of electronic banking may have to rely on deeper layers of authentication that couple passwords with biometric security and smart card authentication.”   Mi2g estimate …

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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: Horses For Main Courses; Handphones for Bones

 Good piece by the BBC on how micropayments may not be taking off online, but are with handphones. “While many of us are happy to use a credit card online, spending tens, hundreds, and occasionally thousands, of pounds, parting with just 50p is less common.” Despite the lack of any common system for micropayments, the …

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News: The Ugly Truth About The Self-Checkout Lane

 I live in Indonesia, which teaches you tons about credit cards and how easy they are to get fraudulent with. But at least here they don’t allow you to swan past security with riding lawn-mowers you haven’t paid for. From the Sacramento Bee, a cautionary tale about the self-checkout lane in supermarkets where you swipe …

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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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News: Come To Australia, Skim Central

Looks like Australia is becoming a haven for credit card fraud, or at least a part of the business. An article on News Interactive says that losses by Australian banks to credit card skimming have risen by more than 400 per cent in the past year, according to The Australian Crime Commission (ACC). Organised groups …

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