Monday, 1 September 2008

The Bank Account That Sprang a Leak

The New York Times

Although there's no evidence (yet) that the fraud reported in this NYTimes article is Internet-related, it serves as a reminder that the financial targets which are increasingly the subject of cybercrime are only as strong as the weakest link protecting them. Certain systems, such as the clearing house system in use for US checks, were designed in a relatively low threat environment, and are becoming increasingly problematic as they are exposed to an ever wider audience of participants and increasing volumes of transactions.

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