Security Basics
RE: Re: Bank Of Montreal Online Security Nov 02 2012 07:07PM
Mikhail A. Utin (mutin commonwealthcare org) (3 replies)
Re: Bank Of Montreal Online Security Nov 04 2012 01:50AM
Davin Enigl (davinenigl comcast net) (1 replies)
RE: Bank Of Montreal Online Security Nov 23 2012 11:45AM
Ken Schaefer (ken adOpenStatic com) (1 replies)
I'd count one example as "rare" :)

In any case, the Citibank example cited isn't an attack by one party on another person's account. It is an attack against the bank's systems, but retrieving money from one's own account(s).

Ultimately the question comes down to cost/benefit. Whilst I agree that banks (and others) are under daily attack, that's not a justification for deploying and operating more complex security infrastructure.

Unless (("cost of implementation" < "cost of non-implementation") AND ("nothing better to spend IT budget on"==true)) then it's not going to happen. For some orgs the equation above works, and for others it doesn't.


-----Original Message-----
From: listbounce (at) securityfocus (dot) com [email concealed] [mailto:listbounce (at) securityfocus (dot) com [email concealed]] On Behalf Of Davin Enigl
Sent: Sunday, 4 November 2012 12:51 PM
To: security-basics (at) securityfocus (dot) com [email concealed]
Subject: Re: Bank Of Montreal Online Security

On 11/02/2012 12:07 PM, Mikhail A. Utin wrote:
> Hello,
> Frankly, considering usual number of a bank customers, which could be up to 10 million, using anything better than a user name and a password create a technical problem for IT, meaning finally money. Breaking in bank's accounts and stealing information is relativily rare. I do remember they replaced my credit cards twice during twenty years. I have accounts with 5 major banks, so see the statistics. I would believe that it is much cheaper for a bank fixing accounts, replacing cards, etc. than keeping on-line complex authentication system.
> RBS Citizens uses as well an image associated with an account that adds some security value.
> Regards
> Mikhail utin, CISSP

Rare? You have got to be kidding. You are a CISSP?

--Fourteen Charges in Precision Cyberheist Case (October 30, 31 & November 1, 2012) Fourteen people have been charged in connection with a coordinated cyberheist that netted thieves more than US $1 million through cash-advance kiosks at casinos in Nevada and California. The scheme exploited a flaw in Citibank's system that is supposed to prevent checking accounts from being overdrawn and involved making a coordinated series of withdrawals from accounts in a brief window of time.
Ringleader Ara Keshishyan faces up to 30 years in prison and a fine of US $1 million. The others face prison sentences of up to five years and US $250,000 fines.


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[ reply ]
Re: Bank Of Montreal Online Security Nov 24 2012 06:12AM
Nathan V (nathan v gmail com)
Re: Bank Of Montreal Online Security Nov 03 2012 12:40AM
Davin Enigl (davinenigl comcast net)
Re: Bank Of Montreal Online Security Nov 03 2012 12:33AM
Davin Enigl (davinenigl comcast net)


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