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Computers

Computer Glitch Leaves Bank Customers Fuming, Ferrari-less


It's bad enough when your credit or debit card is rejected, but imagine if you tried to make a large purchase and were declined due to a computer glitch. That's what happened to customers of Barclays bank across southern England when a "faulty disc array" took out 1,500 ATMs along with phone and Internet banking services, altogether preventing merchants from processing purchases.

According to BBC News, Mark Taplin of High Wycombe was one of those haplessly caught in the middle of this embarrassment. While some were left borrowing a few dollars for lunch, or wondering why they couldn't access their plane ticket, Taplin was turned away while attempting to purchase his dream car -- a Ferrari. In an e-mail to BBC News, Taplin said, "Trust this to happen the only time in my life that I'm ever likely to buy a Ferrari. I'm not amused."

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Computers

Women More Prone to ID Theft, Less Likely to Use New Tech



A recent study indicates that women are more likely to be victims of identity theft than men, Forbes reports.

Published this week, the study, which was conducted by Javelin Research, claims that women are 26-percent more likely to fall victim to identity theft. Last year saw 4.8-percent of women having their identity stolen, while only 3.8-percent of men were victims. In keeping with those figures, women were also less likely to discover theft promptly, averaging 83 days to spot the signs of theft to 45 days for guys.

James van Dyke, the President of Javelin, believes this gap can largely be explained by the differences in the general attitudes towards technology between the sexes. While men these days largely conduct their business online, women tend to both shop and bank at physical sites, thus opening themselves up for credit card theft and denying themselves more high-tech means of security and notification. At present, 23-percent of men have signed up for e-mail alerts and 8-percent get text alerts that notify them of suspicious transactions. For women, only 15-percent have opted for e-mail and 3-percent for the text alerts.

While these results are somewhat surprising, we only hope everyone makes sure their accounts and cards are secure, regardless of gender. [From: Forbes]

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Cell Phones

Send Cash Through an ATM Using New ATMSend Service

Money makes the world go 'round. The problem is, how to get money 'round the world. Sure, there's always Western Union or MoneyGram, but if you ask us, that requires just one step too many. A Charlotte, North Carolina-based company, Privier Inc, hopes to have an easier, and more accessible, solution.

The company's service, dubbed ATMSend, would allow a user to send cash to another user for pickup. What sweetens the deal here is that neither the sender nor the receiver would require a bank account at the participating bank, or at all. All that's required is that the sender verify their identity by registering a cell phone. Once the cash is ready for transfer, the sender would input their registered number into the ATM, wait for a text message with an authorization code, and then send the receiver the authorization code for pickup.

Depending on the participating banks' fee (if any at all), ATMSend could even be a cost-saving alternative to services such as PayPal, which takes a cut from certain transactions. Sending money sans a bank account is sure to be valuable for a number of people, though we're a little worried about the possible ways this could be beneficial to evildoers. [From: MarketWatch]

Computers

Citibank Employee Wires Someone Else's Money to Himself


With the economy looking shaky (thanks, in part, to bogus computer simulations), and more and more banks being bailed out with federal funds, you might be thinking that the inside of your mattress is the safest place for your cash right now. If not, please allow us to give you a few more reasons to think twice before signing that deposit slip, courtesy of a disconcerting article at Wired about some bad employee behavior at a number of financial institutions.

The cases include the case of Citibank employee Brandon Wyatt, who was recently charged with wiring customer money -- about $380,000 -- to other bank accounts he had access to and then pulling that out as cash out and spending it himself. Meanwhile, two employees of an Indianapolis investment company used private customer information to open 129 separate bogus credit card accounts with a combined $1.4-million credit line. Scary? Yes, but we're still inclined to think our money's safer in a bank than under the bed -- with our luck, we'd leave our retirement savings on the curb after some spring cleaning. [From: Wired Threat Level]

Computers, eBay

Sensitive Bank Info Bought on eBay

Royal Bank of Scotland Customer Information Accidentally Sold on eBayEvery buy a used hard drive on eBay? If so, did it come with any surprises on-board after you installed it? Imagine how you'd feel if you installed your new (to you) drive and found millions of customer records from various banks! That's exactly what happened to Andrew Chapman from Oxford, England. Chapman bought the used drive for £77 (about $140) and found himself perusing customer records from the Royal Bank of Scotland (RBS), among others.

The drive came from the archiving firm Graphic Data, which is supposed to protect such data from getting into the wrong hands. Graphic Data's services are used by banks like RBS and American Express to store and, ultimately, dispose of confidential information.

How exactly this drive escaped without being cleaned remains to be seen, but we're guessing the company is scrambling to find out. Last year, after a similar leak due to a lost laptop, Nationwide Building Society was fined nearly two million dollars for not protecting customer information. Expect something similar here. [From: BBC News]

Computers

Man's Offending Password Changed By Humorless Bank


Calling the British stuffy may be a bit of stereotyping, but the term certainly applies to a Lloyds TSB employee who changed a customer's password because it made fun of the bank. The customer had chosen "Lloyds is pants" -- translation: Lloyds is crap -- after a dispute with the bank, and found later that he couldn't access his account with it.

Steve Jetley used that password for his telephone banking account, but when he called up one day, the employee said the code didn't match what was in the system. It turned out that someone changed the password to "no it's not," so Jetley tried changing it back to his original phrase. The bank deemed it inappropriate, so he tried "Lloyds is rubbish," and then "Barclays is better," a reference to a rival business. They denied those too, saying it had to be one word, so he tried "censorship." They rejected that, saying it couldn't be more than six letters. Apparently, they haven't read up on safer passwords.

Lloyds said the staffer in question was fired and that in most cases, employees cannot see a customer's password. They claim that in this instance, the account is a business account with several people accessing it, so their advisors can see it. Unfortunately, Jetley is still trying to find a suitable password. We suggest he choose another bank. [From: BBC via Techdirt]

Computers

Bad Design of Banking Sites a Security Risk, Experts Say

Report Says Banking Sites Poorly DesignedA new study out of the University of Michigan says that many banking Web sites are poorly designed and put customers' data at risk. Although the sites aren't necessarily full of security holes or exploitable code, researchers say many banking sites encourage bad surfing practices. The problem is that banks often ignore standard security design features that security experts encourage Web surfers to look for.

Many banking sites redirect customers to outside Web sites without warning or place "secure" log-in boxes in the middle of insecure sites. Some sites were even found to be using e-mail addresses and Social Security numbers as user names, which could be relatively easily figured out. Even if the log-in box itself is secured and the information transmitted is encrypted, using a secure log-in box on an insecure page trains surfers not to bother looking for the tell-tale SSL padlock icon in the address bar, which indicates that a site is secure and the owner is legitimate.

All of these poor choices encourage Web habits that security experts have been trying to break users of for years. So next time you get caught up in a phishing scam you can blame it on the banks, just like you blame your problems with men on your daddy issues. [Source: USA Today]

Computers

Citibank/7-Eleven ATMs Infiltrated, PINs Stolen

Citibank ATMs Infiltrated, PINs StolenSo you follow your bank's advice to the letter when it comes to ATM security: You don't let someone snoop over your shoulder why you're using it, you don't stand there to count your cash immediately after withdrawal, and, most importantly, you've chosen a PIN that isn't "1234."

Good for you, you're doing your part. Sadly, though, it seems that Citibank, and two companies that operate thousands of its ATMs, are not doing their's. Somehow hackers have found a way to infiltrate those ATMs and steal the PIN numbers of anyone who used them.

The automatic tellers affected are the Citi-branded ones found at 7-Eleven stores. These machines -- of which there are 5,700 in total -- are operated by Cardtronics Inc. and Fiserv Inc. The machines themselves were not affected, but it seems that both companies failed to encrypt PINs that were transmitted from the ATM to their central computers, so once the hackers were able to access those central servers, they were able to grab numbers without any hassle.

It's unclear just how they gained access to those supposedly secure central computers or how many bank accounts were compromised, but Citibank is taking steps to send new debit cards to those whose PINs, regardless of how complex, were stolen. Maybe it's time for you to ask your bank just how secure their ATM interactions are. [Source: AP]

Computers

Deposit Checks From Home -- Coming Soon

CheckFree Remote Deposit Capture

You soon may be able to deposit checks from home just by scanning them into your computer. An online banking service provider called CheckFree is introducing a technology that allows consumers to scan and transmit check images that is similar to what businesses have been using for some time. The system is called Remote Deposit Capture and all a consumer needs is a scanner, computer, and Internet connection to utilize the system.

CheckFree's services are already being used by the top 150 banks in the United States, so it's just a matter of them tailoring the technology to their customers' needs, according the to the company.

To set it up for home use, a bank would integrate the technology into its existing online banking portal. Consumers would log in, enter deposit information, and then scan a check. The image transfer is encrypted to protect your information.

CheckFree claims its technology will help banks cut down on ATM fraud, such as when consumers insert empty envelopes into ATMs after claiming a dollar value for checks or cash inside.

We just like the idea of not having to touch those ATM buttons, which we recently learned are disgusting.

From The Honolulu Advertiser/AP.


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