Tuesday, March 16, 2010

eBanking Victim? Take a Number.

Brian Krebs:

Over the past nine months, I have spent a substantial amount of time investigating and detailing the plight of dozens of small businesses that have had their bank accounts cleaned out by organized criminals. One of the most frequent questions I get from readers and from my journalist peers is, “How many of these stories are you going to tell?”

The answer is simple: As many as I can verify. The reason is just as plain: I’m finding that most small business owners have no clue about the threats they face or the liability they assume when banking online, even as the frequency and sophistication of attacks appears to be increasing.

I am now hearing from multiple companies each week that have suffered tens of thousands or hundreds of thousands of dollar losses from a single virus infection (last week I spoke with people from four different companies that had been victimized over the past two months alone). In each of these dramas, the plot line is roughly the same: Attackers planted malicious software on the victim’s PC to steal the company’s online banking credentials, and then used those credentials to siphon massive amounts of money from the targeted accounts. The twists to the stories come in how the crooks evade security technologies, how the banks react, and whether the customers are left holding the (empty) bag.

More here.


At Sat Mar 27, 09:29:00 AM PDT, Anonymous bangin said...

E-banking will be a high risk if the system not secure. Audit trail and protection systems must be reliable. A number of banks in Indonesia was attacked through exploitation of weaknesses in the ATM. But that case was resolved quickly and encourage the Bank of Indonesia to review and implement a better security system.


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