SA banking fraud victims double

[QuintonB]

Online banking fraud shocker in SA

New survey reveals that the number of online banking fraud victims in South Africa doubled over the last year

 

[Polymathic]

Yet the banks and cellphone companies refuse to deal with the security flaws

 

[Shellyb1]

Yet the banks and cellphone companies refuse to deal with the security flaws

It's the user most of the time. The user is the idiot that gives up their login credentials and lose the money. If the user kept the creds secret, it would be a different story.

I do however recognize that the technology is getting sophisticated and with malware like Zeus/Zbot, users are compromises no matter what. That's where banks need to come in with transactional monitoring (geolocation, time of day, beneficiary monitoring) to risk score a transaction and block/alert.

 

[kianm]

Nomatter how secure the banks' systems become, the most important factor is user educatuon on security. The love of free things/money is the weakness in people

 

[entrepr]

It's the user most of the time. The user is the idiot that gives up their login credentials and lose the money. If the user kept the creds secret, it would be a different story.

Is the article saying that 19% of bank users were actually hit?

ie. 19% of us are idiots ...

 

[ld13]

Is the article saying that 19% of bank users were actually hit?
ie. 19% of us are idiots ...

No no, the amount of idiots that took part in the survey doubled over the last two years.