Article#9 - Security flaws are probably designed into your online banking website

Article#9 - Security flaws are probably designed into your online banking website

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Vladimir Milosavljevic CIS 1200N Article #9 (2008, December). Security flaws are probably designed into your online banking website. ABA Banking Journal , 100 , Retrieved April 19, 2009, from http://0- search.ebscohost.com.library.dowling.edu/login.aspx? direct=true&db=buh&AN=35892503&loginpage=Login.asp&site=ehost-live In the analysis of online banking programs in 214 financial institutions researchers from the University of Michigan came up with the result that vast majority of all online banking websites has at least one design flaw that can expose sensitive data to the hackers and other cybercriminals. As they stated, situation could be even worse because almost none of those flaws are software bugs that can be fixed with a simple patch. They have studied five most common design flaws and tried to detect them in online banking programs of these 214 institutions chosen. The first and the most common design flaw that has been found on around 55% of the programs in the study is so called “content information/security advice on insecure pages”. In other words, hacker just needs to replace customer service phone number with bogus numbers. When customer
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