Online Banking: Widespread Security Flaws Revealed

http://www.livescience.com/technology/080723-online-banking.html

 

Yeah well, this is what happens when you move everything over to computers and then put money and time over security. As I said in another thread: Welcome to the Digital Age! It's just going to get worse folks *scurries back to nuke-proof shelter*

 

I've noticed gliches, seletion boxes that lead to the wrong section or just a blank page. I've had account information filled in with info from 6 months before and more. I've reported the mess in detail, all I got for my effort was "What are you talking about" and a list of things I could be doing wrong. I guess the banks have to straighten out their own mess, but how can the banks do that without some one pointing out their mistakes.

 

They've had warnings, just as every other business has, but again, time is money, neither of which they want to part with. Also, in many cases, the staff doesn't even know how to operate the software they use beyond a few buttons. That happens a LOT in business.

 

Some of the bank websites that I have come across look very primitive. I wonder who designed this thing Obviously, it was someone who probably just got a job as a newbie web designer. LOL Banks hire people to make and maintain a user friendly interface site. The banks main focus is not on how secure the site is, the main focus is the $$$ generated.

 

Users regardless of the business involved are always secondary to shiny coins and crisp bills.

 

You have to realize that if no moola was transacted on the WWW, virtually all of the online businesses would disappear and all things would go back to a BBS framework and text formatting.

 

Not saying the world would be easier without tech, just saying the more we rely on tech to run the world, the easier it becomes to have the whole thing come crashing down

 

Hollywood has produced many movies with this theme. E.G., 1984.

 

Orwell so far wasn't too far off the mark.

 

Except the hero and revolution at the end of every one?
Mrk

 

I cant understand why there are still banks that uses codes to login....
Three years ago when my bank offered me to buy a card reader (for the credit card) with a certificate I got it. I believe it is much more secure and it is much faster to use than codes.

 

Yeah, well, that part is for the movies. Don't look for the bulky guy that saves the world and gets the girl to get us out of where we're headed.

@Sukarof: I don't get why they still use passwords and such either. Of course (and I ask because I've no idea), would it not be possible to steal the information using a fake website, even with the card reader?

 

Secret questions seem to be the in-vogue feature of today's online banking security. My question is - Now that I am revealing all manner of answers to questions that only I am likely to know, how is that information safeguarded by banks? Is it encrypted all the time? Can the sys-admin read it? Is it ever printed? Is it ever exchanged with third parties?

Does anyone have answers to questions like these?

Thanks,

Vern

 

Paypal's little electronic gadget works very well. I have one. When I log into Paypal, I must first give my user name & password, then I am asked to press the button on the little electronic gadget they sent me, & enter the unique pass-number it produces. That number changes with every button-press.

Dadgummed good security!