e-commerce & security

[valian]

I heard a report on radio the other day that a major bank here in Aust (CBA) says that the volume of internet banking transaction now outweighs the number of transaction that go thru its branches. Thats fairly significant & means that there has been a huge uptake of internet banking since it first was offered.

ANyway with all that data (bank account numbers etc) out there in cyberspace & on the computers of the banks (not to mention all the data that online vendors like Amazon etc must have as well) it begs the question "how safe are my banking details"???

To date there hasnt been any reports of hacking into banks' computers or anything, but since some kid from Sweden (was it??) could bust the css code then is it just a matter of time before a major security breach occurs??? What makes the banks or for that matter Amazons computers so special that they cant be hacked into???? & why is all that data on the Internet safer than any other data??

What do others reckon???

[holistic]

F Y I - a kid from Sweeden did NOT "bust the css code"
Good made for movie of the week stuff.
The story : http://www.tbtf.com/resource/CSS-Leitner.html

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Attention MODs this dosen't appear to breach rules .If it does please remove.

[pacmania_2001]

What a coincidence, I am learning about this at the moment at Uni.

Now if I wasn't trolling on here and was listening to the lecturer instead I could probably give you a better answer but basically here goes:

If an online site uses proper security protocols (i.e. SSL) then it is just (if not more safe) then using your credit card in the real world. Their will always be minor incidents here and there that will arise (mostly from human error) as there is in the real world.

To sum up, it is safe to use online shopping and banking sites provided they have correct security measures in place. Theoritically a hacker could break into such sites however the number of hackers with that skill level and the resources to do it, as well as them choosing the site you are using as a target is very remote.

[pacmania_2001]

Also, most major credit card companies will reimburse you for any charges that occur if you can prove they were made by someone other than yourself.

[Hardcoreruss]

Also, most major credit card companies will reimburse you for any charges that occur if you can prove they were made by someone other than yourself.

I worked for HSBC for 2 years and then Citibank for a year this was a practice enforced by all of them. If you could prove it you got your cash back EVERY time, never heard of someone not.

[SLK001]

There have been many more instances of people stealing your credit card number when you physically hand it to them (like paying for a restaurant bill with a credit card - the waiter makes himself a copy of the number) than from usage over the net. Mostly, because of the Secure Socket Layer (SSL) in all modern browsers. SSL uses and encryption technique that is infinitely more secure than that on a DVD.

That said, there have been instances of banks and retailers getting their computers hacked and they have compromised some customer information (including card numbers). Security is only as good as the people using it.

[holistic]

Security is only as good as the people using it.

And we all know that there are a lot of 'techno ignorant' users out there.
Just what you need, a bunch of people who think the biege box on their desk is the 'harddrive', looking after your finances.

I feel better already.

BTW my password is .................... password
Duh

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[AND1]

I worked for HSBC for 2 years and then Citibank for a year this was a practice enforced by all of them. If you could prove it you got your cash back EVERY time, never heard of someone not.

How would you prove it? Lets say I bought a big screen tv with a credit card and then called my bank and told them i noticed I lost my wallet. Would you prove it by saying it wasnt you and saying you can come over my house and see I dont have any of the things here? (Ok this is the bad me thinking)

What about if you lost your card and someone else bought a tv and you didnt know it and reported your card. How would you go about proving you didnt buy it?

[valian]

thanks for the comments,

I,m glad to know that these details are highly secure, however nothing is 100% absolute in the world & I reckon its only a matter of time before a major security breach occurs

cheers

[g_shocker182]

Also, most major credit card companies will reimburse you for any charges that occur if you can prove they were made by someone other than yourself.

I hear that they are very sympathetic towards those frauded.