Excerpt:
“The popularity of internet banking continues to grow, but so does cyber crime. Peter Madigan explores the security challenges for institutions active online and finds US regulators could be doing more to keep the banking public safe…
“Attacks on online banking systems, as well as credit and debit cards, seem to make the newspapers daily in the US…
“Last month, members of the Kauai Community Federal Credit Union in Hawaii were targeted by a wave of 'phishing' emails, which attempted to get people to disclose account and credit card information. Individuals have also been targeted by phishing emails purporting to be offering refunds on their taxes if they supply information to a fake Internal Revenue Service website. Meanwhile, big banks are focusing their attention on a rash of fake cheque scam.”
Source: Op Risk & Compliance
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