Mntsnow
09-14-2004, 7:39 AM
Legend has it (incorrectly, it seems) that infamous bank robber Willie Sutton, when asked why banks were his favorite target, responded, "Because that's where the money is."
The modern-day Willie Suttons of the world target bank Web sites for the same reason. With online transactions, money is represented in the form of electronic records of ownership, which means online bank robbers can steal more money, in less time, than by stealing literal currency--and they don't even need a getaway car. But that doesn't mean online banking necessarily has to be a riskier proposition.
"Internet banking is terribly secure," says Brad Adrian, an Internet banking analyst with Gartner. "Financial services providers...make their systems as secure as possible."
But, he says, "unscrupulous people using phishing, keystroke collection, or similar activities" to steal your passwords or account numbers are a growing problem.
Read more at PCWorld (http://www.pcworld.com/news/article/0,aid,117757,00.asp)
The modern-day Willie Suttons of the world target bank Web sites for the same reason. With online transactions, money is represented in the form of electronic records of ownership, which means online bank robbers can steal more money, in less time, than by stealing literal currency--and they don't even need a getaway car. But that doesn't mean online banking necessarily has to be a riskier proposition.
"Internet banking is terribly secure," says Brad Adrian, an Internet banking analyst with Gartner. "Financial services providers...make their systems as secure as possible."
But, he says, "unscrupulous people using phishing, keystroke collection, or similar activities" to steal your passwords or account numbers are a growing problem.
Read more at PCWorld (http://www.pcworld.com/news/article/0,aid,117757,00.asp)