Security Basics: RE: Bank Of Montreal Online Security

[Ken Schaefer <ken () adOpenStatic com>]

I'd count one example as "rare" :)

In any case, the Citibank example cited isn't an attack by one party on another person's account. It is an attack 
against the bank's systems, but retrieving money from one's own account(s).

Ultimately the question comes down to cost/benefit. Whilst I agree that banks (and others) are under daily attack, 
that's not a justification for deploying and operating more complex security infrastructure. 

Unless (("cost of implementation" < "cost of non-implementation") AND ("nothing better to spend IT budget on"==true)) 
then it's not going to happen. For some orgs the equation above works, and for others it doesn't. 

Cheers
Ken

-----Original Message-----
From: listbounce () securityfocus com [mailto:listbounce () securityfocus com] On Behalf Of Davin Enigl
Sent: Sunday, 4 November 2012 12:51 PM
To: security-basics () securityfocus com
Subject: Re: Bank Of Montreal Online Security



On 11/02/2012 12:07 PM, Mikhail A. Utin wrote:
> Hello,
> Frankly, considering usual number of a bank customers, which could be up to 10 million, using anything better than a 
> user name and a password create a technical problem for IT, meaning finally money. Breaking in bank's accounts and 
> stealing information is relativily rare. I do remember they replaced my credit cards twice during twenty years. I 
> have accounts with 5 major banks, so see the statistics. I would believe that it is much cheaper for a bank fixing 
> accounts, replacing cards, etc. than keeping on-line complex authentication system.
> RBS Citizens uses as well an image associated with an account that adds some security value. 
> Regards
>
> Mikhail utin, CISSP
Rare? You have got to be kidding. You are a CISSP?

 --Fourteen Charges in Precision Cyberheist Case (October 30, 31 & November 1, 2012) Fourteen people have been charged 
in connection with a coordinated cyberheist that netted thieves more than US $1 million through cash-advance kiosks at 
casinos in Nevada and California. The scheme exploited a flaw in Citibank's system that is supposed to prevent checking 
accounts from being overdrawn and involved making a coordinated series of withdrawals from accounts in a brief window 
of time.
Ringleader Ara Keshishyan faces up to 30 years in prison and a fine of US $1 million. The others face prison sentences 
of up to five years and US $250,000 fines.
http://www.zdnet.com/fbi-catches-gone-in-60-seconds-bank-fraudsters-7000006719/
http://www.informationweek.com/security/attacks/60-second-cash-kiosk-hackers-steal-1-mil/240012604?cid=InformationWeek-Twitter
http://arstechnica.com/security/2012/10/atm-heist-clears-1-million-exploiting-citigroup-e-payment-flaw/
https://www.fbi.gov/sandiego/press-releases/2012/fourteen-charged-in-million-dollar-gone-in-60-seconds-bank-fraud



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