The ideas of banks and their vulnerability to attacks always tends to cause a stir like this. Some incidents might even cause a cyberwar :P But how big of a problem is the security factor in electronic banking?
E-commerce has been on the rise for quite a while now (and has been claimed to be on the rise even longer), of course with this developement, banks can't stay behind. Because of this many of them have initiated electronic banking projects like HomeNet. The general idea behind these systems involves a client-server system, in which the user first specifies the transaction information before either calling the banks system or access the Internet to transfer this information to the bank to have it processed.
Obiously, the possibility of anyone tampering with this information is definately something a bank would like to stay clear of. Trust is a major issue in the banking world and even the slightest mention of doubt about the integrity of banks in general and electronic banking in particular could have desastrous effects on customers' confidence.
However, the reality of computers and their interconnection with other computers is that perfect security is quite an impossible feat. Unfortunately this also applies to banks. In a recent MSNBC story, former Hacker News Network editor and L0pht member Space Rogue is quoted about the results of security audits performed on banks by this group as "The audits we have performed tell us [banks] are not invulnerable" and "Banks have a little more security in place, but that security is still not at a level where it’is unbreakable."
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