THREE million online bank customers may be at risk from fraudsters because of a security blunder, it emerged last night.
Experts at Cardiff University discovered criminals exploiting a massive flaw in HSBC bank's computer system which let them access 3.1 million internet accounts - in just nine attempts.
The bank's online system allowed criminals to use "keyloggers" - gadgets or viruses that record every tap of the keyboard on a computer.
The information can then be used to change account details, addresses, transfer cash or arrange big bank loans. The research claims other big High Street banks use a system that offers more protection against keylogging.
Computer scientist, Professor Antonia Jones, who led the research, said: "Banks are in the business of safeguarding your money, and if they tell you that it's safe then you assume that's the case.
"But as long as this flaw exists, customers are at risk. For banks or institutions that are making huge amounts out of their customers not to protect them is pretty scandalous."
HSBC said it would "examine the issues raised here very closely" but it was confident the online security system was sound.
A spokesman said: "Online fraud via HSBC's internet banking system is substantially lower than the market average and we are satisfied our customers are adequately protected."
HSBC added that the "supposed flaw" was not, to their knowledge, being used against them. The spokesman added: "It is an extremely sophisticated attack that would require a particular and time-consuming focus on one individual victim. It is not a profitable way for criminals to behave."
Source: www.dailymirror.co.uk
Experts at Cardiff University discovered criminals exploiting a massive flaw in HSBC bank's computer system which let them access 3.1 million internet accounts - in just nine attempts.
The bank's online system allowed criminals to use "keyloggers" - gadgets or viruses that record every tap of the keyboard on a computer.
The information can then be used to change account details, addresses, transfer cash or arrange big bank loans. The research claims other big High Street banks use a system that offers more protection against keylogging.
Computer scientist, Professor Antonia Jones, who led the research, said: "Banks are in the business of safeguarding your money, and if they tell you that it's safe then you assume that's the case.
"But as long as this flaw exists, customers are at risk. For banks or institutions that are making huge amounts out of their customers not to protect them is pretty scandalous."
HSBC said it would "examine the issues raised here very closely" but it was confident the online security system was sound.
A spokesman said: "Online fraud via HSBC's internet banking system is substantially lower than the market average and we are satisfied our customers are adequately protected."
HSBC added that the "supposed flaw" was not, to their knowledge, being used against them. The spokesman added: "It is an extremely sophisticated attack that would require a particular and time-consuming focus on one individual victim. It is not a profitable way for criminals to behave."
Source: www.dailymirror.co.uk
