Security flaws in online banking sites

[Humpty]

Some banks may have taken steps to resolve these problems since this data was gathered.

More than 75 percent of the bank Web sites surveyed in a University of Michigan study had at least one design flaw that could make customers vulnerable to cyber thieves after their money or even their identity.

 

A recent FDIC Technology Incident Report, compiled from suspicious activity reports banks file quarterly, lists 536 cases of computer intrusion, with an average loss per incident of $30,000. That adds up to a nearly $16-million loss in the second quarter of 2007. Computer intrusions increased by 150 percent between the first quarter of 2007 and the second. In 80 percent of the cases, the source of the intrusion is unknown but it occurred during online banking, the report states.

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[DennisD]

Thankfully I don't have have the need to use online banking, but your details aren't even safe the old way after thousands of customers banking details were found lying in bins at the back of a high street bank.

 

This is just one example from 2007:

[CeeCee]

Thankfully I don't have have the need to use online banking

 

Couldn't live without it. Makes things so easy.

 

Do you guys in States or in UK have a system, where you still need to type a "keynumber", after your usernumber and password? So after you have logged in, there's still a box with a number above, and you need to check the "matching" number/pair from the list. (physical) keynumberlist is from the bank. One list can be used 100 times, so you need to order a new list before the current one runs out.

[YoKenny]

I do my banking the old fashioned way.

 

I walk to the bank then take out my banking card with the bank book and ask the teller to update my book then look at the paltry funds left in there to see what I can take out to go buy food and the occasional toy that I must have and if it is near the end of the month and my pension is in the account I pay my rent so that I don't get evicted.

 

I like walking to the bank as I find it is good exercise and I like chatting up the female tellers then on the way home I stop in this wonderful Polish deli to pick up some tasty bread and some of his delicious cheese and ham for sandwiches.

[hazelnut]

For the bank I do my online banking with as well as a username and password, I also have to enter a randomly generated question that I gave an answer to when I set up the account.

 

Questions like school attended, mothers first name etc.

[CeeCee]

I also have to enter a randomly generated question that I gave an answer to when I set up the account.

 

Questions like school attended, mothers first name etc.

Well, that adds some extra layer of security. You should use a question/answer, that is hard to know/guess, except maybe for your family members.