[pchelpers] News:Web banking security flaws 'widespread

Three out of four financial institutions at risk, claims report

Matt Chapman, vnunet.com 25 Jul 2008

Research by the University of Michigan has found that 75 per cent of
online banking sites have at least one design flaw that leaves customers
exposed to cyber-crime.

The study, conducted by Professor Atul Prakash from the Department of
Electrical Engineering and Computer Science, and doctoral students Laura
Falk and Kevin Borders, examined the websites of 214 financial
institutions in 2006.

The report found that the design flaws causing the problems were not
bugs that can be fixed with a patch.

"To our surprise, design flaws that could compromise security were
widespread and included some of the largest banks in the country," said
Professor Prakash.

More here:
http://www.pcw.co.uk/vnunet/news/2222561/security-flaws-widespread-web
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