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Online Banking Security

Online Banking Security. Armando Trujillo. History. 1995 – Presidential Savings Bank Features: Check Account Balance Check Banking Statements Transfer money from one account to another 2000 – 17% of Internet users banked online.

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Online Banking Security

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  1. Online Banking Security Armando Trujillo

  2. History • 1995 – Presidential Savings Bank • Features: • Check Account Balance • Check Banking Statements • Transfer money from one account to another • 2000 – 17% of Internet users banked online. • Currently – 43% Internet users (63 million Americans) bank online.

  3. FDIC • 536 cases of computer intrusion in 2nd quarter of 2007 • Average loss of $30,000 • Total of $16 million in loss

  4. Security Issues • Viruses • Phishing Scams • Malware

  5. Malware • “Pinch” • A Malware tool used to create Trojans • Newest version of pinch created a Trojan specifically designed to attack Bank of America’s online security • Steals Usernames, Passwords, and a special token

  6. Flaws in banking websites http://www.youtube.com/watch?v=idZFgvMRN78

  7. References • Arbor, Ann “Security flaws in online banking sites found to be widespread” University of Michigan • Krebs, Brian “Malware Targets E-Banking Security Technology” The Washington Post • Roane, Kit R. “Banking on the Web” US News & World Report • Wikipedia: Phishing

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