http://www.theage.com.au/news/business/alarm-sounds-on-cyber-piracy-as-online-banking-rises/2007/06/02/1180205572138.html
Alarm sounds on cyber piracy as online banking rises June 3, 2007 THE rapidly expanding ranks of people banking online has raised questions over whether consumers can deal with the growing threat from cyber pirates. In the past year, the number of online bankers in Australia has swelled by 1.3 million to 8.2 million, according to a Commonwealth Bank survey, accounting for 52 per cent of the population. Commonwealth Bank of Australia acting head of retail banking Ross McEwan said ease of access to personal computers at work and at home meant more people were now doing more online, including their banking. "This increase in online banking goes across the board, with more than 1.3 million customers joining the online banking revolution in the last year alone," Mr McEwan said. Security has become a major issue, with the Australian Competition and Consumer Commission (ACCC) saying the threat of fraud through attacks against online accounts is increasing. In a submission to a current review of the Electronic Funds Transfer (EFT) Code of Conduct, which sets out the responsibilities of banks and their online customers, the ACCC argued that customers who used electronic banking, such as internet banking, faced severe threats from tech-savvy criminals. "The ACCC considers that widespread use of electronic facilities for banking and financial transactions will see continued growth in the number and complexity of related fraud which will target such transactions," it said. Attacks from cyber criminals can take many forms. Two of the biggest threats are phishing - used to gain personal information for the purpose of identity theft - and malware, software designed to infiltrate or harm a computer system. The Consumer's Telecommunications Network believes many consumers are not adequately prepared to deal with the threat of such online attacks. In a 2006 report, it said that although awareness of e-security threats might be reasonably high, consumers lacked understanding of how to protect themselves. AAP [Non-text portions of this message have been removed]
