February, 17, 2010

The digital revolution has increased the security threat for banks and other financial institutions which are now scrambling to introduce new measures to prevent data theft. Legalbrief reports that there is also a threat from within as disgruntled and dishonest employees use USB sticks, CD-ROMS and even cellphone cameras to copy classified computer data. And the threat of hackers targeting banks shows no signs of abating.

Only days after the South African Banking Risk Information Centre (Sabric) expressed concern about the increase in information or identity-theft scam (phishing) attacks, a representative admitted there was not much Sabric could do about it. FIN24 reports that Sabric spokesperson Bongani Diako said Sabric itself is not doing anything to catch offenders. All cases are referred to the police. The banks themselves track false Web sites and shut them down if they can, but they do not keep statistics of this activity.

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