Internet Banking Warning

[clontarf_x]

My bank PIN is tattoo'd on my left *** cheek... that way only my other half knows what it is

[4.9 EF Futura]

Originally Posted by havoc19

haha this is the biggest load of **** ive heard in a while a bank wont give us id tag protection or better protection coz its cheaper to just not what the hell are we paying billions in dollars of fees for so they can sit around and think gosh golly were ******* them in the **** we may aswell pay them back. 10 million a year to stop internet fraud or atleast serverly reduce it seems quite logical to me but not to money hungry corporations like banks that constantly rip us of in fees then when they pay some poor guy bak coz there penny pinching resulted in him losing money hes meant to be grateful what a crock of ****

Why would you spend more per year on fraud protection than what the frauds cost you?

You'll end up paying more fees to cover the expenses than you were paying to cover the cost of the experienced losses.

Billions of dollars in fees???

You know it often pays to have a clue before throwing your hat in the ring. Well, at least it used to....

[GXL078]

Originally Posted by 4.9 EF Futura

Why would you spend more per year on fraud protection than what the frauds cost you?

You'll end up paying more fees to cover the expenses than you were paying to cover the cost of the experienced losses.

Billions of dollars in fees???

You know it often pays to have a clue before throwing your hat in the ring. Well, at least it used to....

Maybe they have a MORAL OBLIGATION to uphold the LAW (ie: prevent crime), ever think of that?

[4.9 EF Futura]

Originally Posted by xcgxl

Maybe they have a MORAL OBLIGATION to uphold the LAW, ever think of that?

Uphold the law? Look at their end, the systems are incredibly secure.

We're talking about how much the banks should spend on protecting their customers from their customers inferior systems.

They already spend buicketloads of money on security for internet banking. Im not saying the banks should cease spending money on fraud protection in general, that would be a death sentence for the banking system.

Im saying there's a point where the CUSTOMER NEES TO TAKE SOME RESPONSIBILITY THEMSELVES. A concept which is unfamiliar to so many....

Perhaps the big, nasty, profit hungry bank should be wiping your *** for you too. I mean, they "charge all those fees and stuff".

[fmc351]

Originally Posted by xcgxl

Maybe they have a MORAL OBLIGATION to uphold the LAW (ie: prevent crime), ever think of that?

Police enforce the law, courts uphold it. Banks are in business, and they make economic decisions based on costs v benefits.

[Laminge]

There is a point there, one of which I always wondered, why dont these developers include firewall and antivirus software as part of the package as an end product.

Some people have no concept about security over the internet.

I mean I dont mind seeing the consumer paying a bit extra for it at the end of the day, mind you being fee excempt is a great thing!

[Polyal]

Originally Posted by Laminge

I mean I dont mind seeing the consumer paying a bit extra for it at the end of the day, mind you being fee excempt is a great thing!

Absolutely, I cant even remember the last time I went into my bank.

[strife]

Originally Posted by xcgxl

Maybe they have a MORAL OBLIGATION to uphold the LAW (ie: prevent crime), ever think of that?

The banks spend a heck of lot of money trying to prevent fraud. There is no use the bank building this nice super dupper application that keeps transaction costs to 4c per trans provides a mechanism to reduce branches and face to face banking when its hacked within 5 mintues and no body trusts it and will use it. I find the banks pefer to invest and keep their banking license.

[sgt_doofey]

Originally Posted by Laminge

There is a point there, one of which I always wondered, why dont these developers include firewall and antivirus software as part of the package as an end product.

What do you mean by developers? If you mean Windows and the like, then firewalls are already included with XP SP2 and greater. Anti-virus is something that they'll make people pay for simply because of the amount of work required to keep updating software because of all the new threats that are released every day.

Some people have no concept about security over the internet.

Unfortunately not. If everyone did, then there wouldn't be as many problems with virus', trojans, spam and the like. All we can do as computer literate people is to try and help educate the illiterate.

I mean I dont mind seeing the consumer paying a bit extra for it at the end of the day, mind you being fee excempt is a great thing!

There are plenty of free alternatives to computer software for which you normally have pay for. People just don't know about it.

[Laminge]

Some Internet banking software is not developed by the Bank itself and is contracted out, there is enough talent out there to incorporate a secure antivirus to keep internet banking consumer safe

[sgt_doofey]

Originally Posted by Laminge

Some Internet banking software is not developed by the Bank itself and is contracted out, there is enough talent out there to incorporate a secure antivirus to keep internet banking consumer safe

But the developers don't sell the software to end consumers. They have dealings only with the bank. Therefore it isn't their responsibility.
Having said that, new and innovative ways of logging in to fight identity theft, yes, that is the responsibility of the developers, but generally will only come about due to the banks requesting it.

I am a developer for a financial services company (not a bank). We only develop the on-line systems, we do not have any responsibility towards the advisers and how they secure their computers/networks. If they are "hacked" and someone else gains entry in to their account, that is not our responsibility. However, our on-line systems don't have transaction processing abilities and it is only mainly reporting, so it doesn't really apply to us in that sense.

[xdc351]

Just to make sure that Westpac and other 'online keypad' bank customers aren't getting complacent... there was a trojan that takes screen shots everytime the mouse is clicked (only on the banks website's of course) spread over the internet 48 hours after the new westpac login system went live.

Even RSA tokens are not infallable, its possible to crack anything thats based on an alogrithm, provided the attacker is persistent (and talented) enough. For most home users its not worth the attackers time though, so its secure enough.

Personally I'm quite wary of internet banking. I use it and have been using it for years now. But my suggestion is to have a seperate account thats not accessable through internet banking to keep any sums of money that a theif might be keen on, even if it is a less convienient.

[Gaz]

just a question relating to Internet banking fraud.

with the net bank, you can only transfer money to different accounts, so when you login and you see "transfer to *account number* $11,000" shouldn't the banks be easily able to see who owns these accounts and track them down?

obviously there would have to be a trail of where the money was sent. can't it just be a matter of, large sum on money sent to this account, wasnt intended; owner of corrisponding account = person x. they would have to have person x's details on file for them to have an open account, shouldnt it be easy to track down?

[new2ford]

I use Internet banking without a care. I've got the prefect security system. My accounts are always empty and my credit card's always full! Anybody who wants to steal my debt is welcome to it.

[sgt_doofey]

Originally Posted by Gaz

they would have to have person x's details on file for them to have an open account, shouldnt it be easy to track down?

Depends. They might have provided false details to open the accounts in the first place.

[strife]

Originally Posted by Gaz

just a question relating to Internet banking fraud.

with the net bank, you can only transfer money to different accounts, so when you login and you see "transfer to *account number* $11,000" shouldn't the banks be easily able to see who owns these accounts and track them down?

obviously there would have to be a trail of where the money was sent. can't it just be a matter of, large sum on money sent to this account, wasnt intended; owner of corrisponding account = person x. they would have to have person x's details on file for them to have an open account, shouldnt it be easy to track down?

generally speaking yes, but then look at the options that really are available, BPAY, OTTs (overseas payments) in Netbank.

Also have you ever experienced trying to get money from mistakingly putting it in the wrong account (never mind faud) PITA

[4.9 EF Futura]

Originally Posted by Gaz

just a question relating to Internet banking fraud.

with the net bank, you can only transfer money to different accounts, so when you login and you see "transfer to *account number* $11,000" shouldn't the banks be easily able to see who owns these accounts and track them down?

obviously there would have to be a trail of where the money was sent. can't it just be a matter of, large sum on money sent to this account, wasnt intended; owner of corrisponding account = person x. they would have to have person x's details on file for them to have an open account, shouldnt it be easy to track down?

Yes and anti fraud/terrorism/money laundering measures have seen huge improvements in ID verification. I believe its australian law now, you need 100 points of id to open a bank account.

But people will steal/create identities. i.e. bank looks up account details and sees that $11,000 was transferred to the account of a Mr and Mrs Jack A*se... or the like.

And yeah, see strife's points about other electronic banking perils.

[Miss_XR6]

Originally Posted by photn

ive known for a long time about the Fruad and theft Via internet banking...hence why i got 2 Different accounts and my employer pays 2/3rds into one and 1/3 into another... i only ever access the 1/3 via the net and there is very little money in there.. the other one i only have a card for and go into the bank to do what ever it is that i have to do...IE pay bills or what ever esle....best of both worlds ....

it also depends on what industry u work in if you are allowed internet or not.

[BlewThunder]

Originally Posted by Spotty

(and I dont recall mentioning any specific amount being taken from my account- where did you dream that one up??)

A quick trip down memory lane to post #1 an we see....

Originally Posted by Spotty

Had a few grand taken out of my account fraudulently

So ok maybe i was lazy and put $2000 instead of a few grand...close enough...

[GXL078]

I got a call from my bank this morning saying someone had tried to buy stuff over the internet with my Visa debit card. They were unsucessful because they kept entering the wrong expiry date. They are cancelling the card and issuing a new one.

[Spotty]

Originally Posted by BlewThunder

A quick trip down memory lane to post #1 an we see....



So ok maybe i was lazy and put $2000 instead of a few grand...close enough...

""measley $2000 from YOUR PERSONAL account, when he would have MILLIONS available from the banks system. Sorry dude but your story doesn't add up"

Hahahahahah......you actualy said 'á measley 2 grand' which now you claim was 'close enough'.....and here you are criticising me be saying my story doesnt 'add up'!! Hyprocritical precision. :togo:

[Sourbastard]

I just got a call from the bank. They said close this thread before the IQ's drop any further.