Comments on: Hacking fears bog down online banking growth

The number of people who use Net banking is stagnating, mainly due to fears of phishing and other threats, study shows.

[padrino121]

Insecurity on the part of financial instutions

I wrote a short article a couple of months ago after noticing a change Wachovia made to their home page, I could now login to online banking directly from it however the form was delivered to me over an insecure pipe. This lowers the security posture of the system and opens up some potential holes for exploitation and information disclosure. I didn't get anywhere with Wachovia because their Information Assurance folks apparently think their approach is sound.

Here is the article at my site.

http://www.attemptatsanity.com/xwiki/bin/view/Main/Wachovia

[padrino121]

Insecurity on the part of financial instutions

I wrote a short article a couple of months ago after noticing a change Wachovia made to their home page, I could now login to online banking directly from it however the form was delivered to me over an insecure pipe. This lowers the security posture of the system and opens up some potential holes for exploitation and information disclosure. I didn't get anywhere with Wachovia because their Information Assurance folks apparently think their approach is sound.

Here is the article at my site.

http://www.attemptatsanity.com/xwiki/bin/view/Main/Wachovia

[padrino121]

Insecurity on the part of financial instutions

I wrote a short article a couple of months ago after noticing a change Wachovia made to their home page, I could now login to online banking directly from it however the form was delivered to me over an insecure pipe. This lowers the security posture of the system and opens up some potential holes for exploitation and information disclosure. I didn't get anywhere with Wachovia because their Information Assurance folks apparently think their approach is sound.

Here is the article at my site.

http://www.attemptatsanity.com/xwiki/bin/view/Main/Wachovia

[padrino121]

Insecurity on the part of financial instutions

I wrote a short article a couple of months ago after noticing a change Wachovia made to their home page, I could now login to online banking directly from it however the form was delivered to me over an insecure pipe. This lowers the security posture of the system and opens up some potential holes for exploitation and information disclosure. I didn't get anywhere with Wachovia because their Information Assurance folks apparently think their approach is sound.

Here is the article at my site.

http://www.attemptatsanity.com/xwiki/bin/view/Main/Wachovia

[wtortorici]

Lost payment...

took a month to resolve the issue, plus being charge a late payment fee of $40.00 and interest $8.00 is a very expensive lesson.
Online banking debits your account before they actually pay the payee so they have 3 or 4 days of float. Multiply that by thousands of transactions and we are talking about millions of dollars they get interest free. Sorry NO MORE FOR ME!!!

[wtortorici]

Lost payment...

took a month to resolve the issue, plus being charge a late payment fee of $40.00 and interest $8.00 is a very expensive lesson.
Online banking debits your account before they actually pay the payee so they have 3 or 4 days of float. Multiply that by thousands of transactions and we are talking about millions of dollars they get interest free. Sorry NO MORE FOR ME!!!

[wtortorici]

Lost payment...

took a month to resolve the issue, plus being charge a late payment fee of $40.00 and interest $8.00 is a very expensive lesson.
Online banking debits your account before they actually pay the payee so they have 3 or 4 days of float. Multiply that by thousands of transactions and we are talking about millions of dollars they get interest free. Sorry NO MORE FOR ME!!!

[wtortorici]

Lost payment...

took a month to resolve the issue, plus being charge a late payment fee of $40.00 and interest $8.00 is a very expensive lesson.
Online banking debits your account before they actually pay the payee so they have 3 or 4 days of float. Multiply that by thousands of transactions and we are talking about millions of dollars they get interest free. Sorry NO MORE FOR ME!!!

Security comes at a cost

One of the major reasons I do not do more e-banking transactions is that my bank wants me to pay for it. I understand creating a secure and user-friendly experience that is reliable costs money, but it costs even more money when I make them go through the "old process" of writing and sending checks (which is a free service from them). I feel I can speak with some authority having family in the banking industry and myself working in the IT security industry. Banks need to start looking at the long term and realize it is well worth the investment (e.g. reduced personnel costs, overhead, etc.) to do more online and make it totally free for their customers.

Security comes at a cost

One of the major reasons I do not do more e-banking transactions is that my bank wants me to pay for it. I understand creating a secure and user-friendly experience that is reliable costs money, but it costs even more money when I make them go through the "old process" of writing and sending checks (which is a free service from them). I feel I can speak with some authority having family in the banking industry and myself working in the IT security industry. Banks need to start looking at the long term and realize it is well worth the investment (e.g. reduced personnel costs, overhead, etc.) to do more online and make it totally free for their customers.

Security comes at a cost

One of the major reasons I do not do more e-banking transactions is that my bank wants me to pay for it. I understand creating a secure and user-friendly experience that is reliable costs money, but it costs even more money when I make them go through the "old process" of writing and sending checks (which is a free service from them). I feel I can speak with some authority having family in the banking industry and myself working in the IT security industry. Banks need to start looking at the long term and realize it is well worth the investment (e.g. reduced personnel costs, overhead, etc.) to do more online and make it totally free for their customers.

Security comes at a cost

One of the major reasons I do not do more e-banking transactions is that my bank wants me to pay for it. I understand creating a secure and user-friendly experience that is reliable costs money, but it costs even more money when I make them go through the "old process" of writing and sending checks (which is a free service from them). I feel I can speak with some authority having family in the banking industry and myself working in the IT security industry. Banks need to start looking at the long term and realize it is well worth the investment (e.g. reduced personnel costs, overhead, etc.) to do more online and make it totally free for their customers.