Cracking the nest egg
Serious security breaches are on the increase as more banks and consumers do their business online.
By Sandeep Junnarkar Staff Writer, CNET News.com May 2, 2002, 4:00 AM PT
Law enforcement agencies and security experts agree that breaches in bank security are rising, but the number of serious incidents--and the risk to the public--remains largely unknown. The banking industry, manically protective of its reputation, releases as little information as possible about break-ins, for good reason: Consumers are more sensitive than ever about security, having been exposed to financial disasters ranging from the S&L scandal to the Enron debacle. Privacy and consumer advocates say security will likely be compromised even further as financial institutions partner with companies such as Microsoft and AOL Time Warner for Web services, which will rely on relatively untested technologies. Banks: A veil of safety Anatomy of a hacking Dark side of cyberlife Editors: Mike Yamamoto, Lara Wright, Jennifer Balderama |