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Technology

Benevolent hackers poke holes in e-banking

By Jim Giles

27 January 2010

New Scientist. Science news and long reads from expert journalists, covering developments in science, technology, health and the environment on the website and the magazine.

Security could be lacking

(Image: Frazer Hudson)

ONLINE banking fraud doesn’t just affect the naive. Last year, Robert Mueller, a director at the US Federal Bureau of Investigation, admitted he’d come within a mouse-click of being a victim himself. Now the extent of the problem has been brought into sharp relief, with computer scientists warning that banking culture is increasing the likelihood that customers are using vulnerable systems.

The convenience of online banking and electronic money has led to a revolution in the way we save and spend our earnings. Banking websites and payment systems are relentlessly targeted by criminals,…

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