Major US banks fail security and privacy tests

The 2017 Online Trust Audit & Honor Roll report shows that 65% of major US banks failed web security and privacy tests.

The research is produced by the Online Trust Alliance, and recognises excellence in security and privacy practices.

According to the report, it is alarming that over 60% of the largest banks and Federal Government sites received failing grades in one or more category.

“The security oversights and inadequate privacy policies observed reflect the need to add resources in these areas.”

“These missteps often reflect a lack of ongoing security discipline, failure to take a user-centric view on privacy, and not embracing data stewardship and responsible privacy principles.”

The Honor Roll

Sites had to receive a composite score of 80% or better and a score of at least 60 in each of the three main categories to make the Honor Roll.

  • Consumer Protection (DNS, Domain and Brand Protection).
  • Site, Server, Application and Infrastructure Security.
  • Privacy, Transparency and Disclosures.

The percentage of banks which made the Honor Roll dropped by more than half to 27% over the past year.

Sector

Failures

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Major US banks fail security and privacy tests