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 to carry out checks that seek to prevent fraud.” Halifax also introduced delays in the processing of payments this week, as have Royal Bank of Scotland and NatWest, The Times reports today.
Interesting. Inevitable, perhaps, but this degradation in service can only force some customers back to the physical banks, or to less appealing and less cost-effective services like phone-banking. Running checks on every Internet transfer is going to be time-consuming and expensive for banks. What does this do to banks’ hopes that online banking would effectively replace the high street bricks-and-mortar model?
It seems that there’s a purpose behind the viruses we’ve all been getting: old-fashioned extortion
. Reuters reports
that extortionists — many thought to come from eastern Europe — have been targetting casinos and retailers, but one recent high-profile victim was the Port of Houston. The attacks, which can cripple a corporate network with a barrage of bogus data requests, are followed by a demand for money. An effective attack can knock a Web site offline for extended periods.
Online casinos appear to be a favorite target as they do brisk business and many are located in the Caribbean where investigators are poorly equipped to tackle such investigations. Police said because of a lack of information from victimized companies, they are unsure whether these are isolated incidents or the start of a new crime wave.
Last week, the online payment service WorldPay admitted to suffering a major DDoS attack that lasted three days. WorldPay, owned by the Royal Bank of Scotland, has been fully restored. The NHTCU spokeswoman said the investigation into the WorldPay is ongoing.