Thursday, July 24, 2008
Design flaws in banks' websites are leaving them open to a wide range of security attacks including identity theft and fraud, it has been indicated.
According to Network World, a study by the University of Michigan has shown that 75 per cent of such institutions operated websites that contained at least one IT security vulnerability.
Full findings from the report will be announced at the upcoming Symposium on Usable Privacy and Security (Soups) meeting on Friday (July 25th) at Carnegie Mellon University in Pittsburgh.
The web publication noted that while the data was collected in 2006, many of the security flaws identified in the study are still prevalent today.
An underutilization of secure web processing protocols was identified as a key vulnerability, with 47 per cent of banks found to have failed to implement secure socket layer technology to handle logins.
Prominent on the agenda for the Soups event will be the discussion of human-interaction-proofs for companies looking to maintain secure authentication practices. 
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