CyTRAP Labs advises Danish financial institutions – transaction authentication for e-banking

by Urs E. Gattiker on 2008/01/05 · 0 comments 2.490 views

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Internet banking – e-banking is not always secure
70 cases of fraud regarding e-banking transactions at a cost of about Euros 450,000 were recorded in Denmark for 2007
Digitally stored signature files were stolen from customers PCs’ hard-drive

xEver more financial institutions such as Bank of America – thought SMS would help but, Jyske Bank, Sydbank and UBS want their customers to use e-banking facilities. This helps reduce transaction costs for the bank and client while, hopefully, making it also more convenient for clients.Nonetheless, these banks including Sparekasserne, Nordea or Danske Bank may have to improve their security levels to safeguard their customer’s trust in the security and reliability of internet banking.The experts from CyTRAP Labs were asked about their expert opinion on these issues, particularly as they pertain to Denmark and its 70 cases of fraud during 2007.

As a result we were quoted and re-quoted in various news media around the globe including but not limited to The Netherlands and Denmark.

2008 CyTRAP Labs in the news
2008-01 throughout the year FiRST – Forum of Incident Security Response Teams 2008-01, carries some of our news items for its members (i.e. CERTs around the world) every week in its Global News section
2008-01 Version2.dk – news for IT professionals – Engineering Association Denmark Story 1 – 2008-01-04 why transaction authentication matters
Story 2 – 2008-01-04 – why e-banking can be less than safe for clients
2008-01 Security.NL maakt Netherland veilig 2008-01-01- OPTA laat Russische botnetbeheerders lopen
2008-01 Erhvervs
Bladet.dk
2008-01-04 internet banking – security

============>As you can see, 2008 started with a few events that are of considerable interest to risk and security managers including compliance officers. You can find out more what the media says about CyTRAP Labs using the hyperlinks below:media and press

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Find more infos about this topic here:

Press Release – Urs+Nahum’s Security Checklist

2008 CyTRAP Labs in the media

Regulation that matters? Online banking services – survey says: antifraud measures insecure

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