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Hacking Attacks Are Increasing to Haunt Banks

Banks are trying hard to make arduous defenses against cyber-criminals but they are encountering a bigger threat - physical theft of patron information by hackers in offices.

Carmen Oveissi Field, a New York-based advisor on cyber crime, said, "you can upgrade its security system to any level, but if you are not critical with temporary employees and consultants, then that is an intense susceptibility".

US and European banks are investing fortunes to make their computer systems impenetrable. The customers have been constantly warned by banks about the risks of being fooled by professional hackers to divulge the secret information of their bank accounts.

Most of the banks are employing strict measures to combat these bogus sites. They are sending warnings to customers about phishing scams on their e-banking sites. Banks are attempting to make customers aware of these phony sites and thus, filliping customers to forward any dubious mails to them so that they can identify the false sites and close them down.

Phishing, one of the most widely used methods to fool people, a fake e-mail is circulated, leading receivers to a false bank site. Here, they may be tricked to enter their bank account details, usernames and passwords. Hackers then use information to ransack the bank accounts.

Chris Potter, a partner at PWC (Pricewaterhousecoopers - that advises financial firms on technical risks), London, reported that according to surveys, computer security is one of the key issues that restrict the increased use of Internet by public.

Banks informed that they are sure of tackling the phishing attacks by continuously sending warnings to their customers of the possible risks. Banks are not leaving any stone unturned to avoid phishing and other fraudulent hacking operations.

A security officer at a major European bank stated that identity theft could take place through intruding into a bank's system. But the more troubling issue is when someone from the bank infiltrates the security network.

Related article: Hacking in High School, Grades Changed for Money

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