'Banking Is Necessary--Banks Are Not' Why has banking become less and less important to America? Let us count the ways.

'Banking Is Necessary--Banks Are Not' Why has banking become less and less important to America? Let us count the ways. - May 11, 1998

xxx

Over the years, nonbanks have had surprisingly little difficulty replicating basic bank services.

From 'Banking Is Necessary--Banks Are Not' Why has banking become less and less important to America? Let us count the ways. - May 11, 1998

That’s from almost two decades ago. It was clear then that banks had only the regulatory moat to defend their

Comments

Websec Canada: Launching replay attacks against the Wells Fargo Wallet service

xxx This white paper is a shortened version of the actual research. Unfortunately, the exploitation bug is not fixed yet. The company was notified and informed about the issue. However, the bug is not fixable (at the moment). From Websec Canada: Launching replay attacks against the Wells Fargo Wallet service . xxx

We could fix mobile security, you know. We don't, but we could

Earlier in the week I blogged about mobile banking security , and I said that in design terms it is best to assume that the internet is in the hands of your enemies. In case you think I was exaggerating… The thieves also provided “free” wireless connections in public places to secretly mine users’ personal information. From Gone in minutes: Chinese cybertheft gangs mine smartphones for bank card data | South China Morning Post Personally, I always use an SSL VPN when connected by wifi (even at home!) but I doubt that most people would ever go to this trouble or take the time to configure a VPN and such like. Anyway, the point is that the internet isn’t secure. And actually SMS isn’t much better, which is why it shouldn’t really be used for securing anything as important as home banking. The report also described how gangs stole mobile security codes – which banks automatically send to card holders’ registered mobile phones to verify online transactions – by using either a Trojan...

Snippets

Search This Blog