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[Wired] Bank Not Responsible for Letting Hackers Steal $300K From Customer - Page 2

post #11 of 35
Quote:
Originally Posted by sgr215 View Post
I've never really got how cons like this work. Isn't the hackers bank account listed in the ACH transaction? Even if the hacker used a stolen identity to create the account he still would have to withdraw the funds which wouldn't be easy. You can't just walk up to an ATM and withdraw $300,000. In fact, most banks require you to make an appointment to withdraw large sums of money because they have to special order the currency beforehand.
It says they did it in smaller single transactions, presumably making a lot of them. The bank caught it and was able to reverse about half of them it sounds like.
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post #12 of 35
Quote:
Originally Posted by SpykeZ View Post
Why do I have the feeling lulzsecurity is going to be showing up soon
To the rescue!
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post #13 of 35
Ya, if you get yourself keylogged and they take all of your banking info straight from you what is the bank supposed to do? How did they not notice the long process of taking $600,000 out of their accounts, hell I only have $600 in my bank account and I still check it daily.
post #14 of 35
The bank did nothing wrong. The problem was with a stupid employee downloading a malicious attachment.
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post #15 of 35
Quote:
Originally Posted by the.FBI View Post
Ya, if you get yourself keylogged and they take all of your banking info straight from you what is the bank supposed to do? How did they not notice the long process of taking $600,000 out of their accounts, hell I only have $600 in my bank account and I still check it daily.
I assume they logged the credentials and made the transfers from another computer. Cuz you know, making transfers on the victims computer in front of them is a bad idea. ANd in that case, the bank should have had multiple qualification checks in place to be able to transact from another pc.
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post #16 of 35
Someones sends me email like this all the time with my bank logo and stuff, saying my account is suspended because of too many failed log in attemps that i need to log in now to resolve. I just send it to my banks link to report phishing email and they confirm its fake and whatever else they need to do.
post #17 of 35
Quote:
Originally Posted by tsm106 View Post
I assume they logged the credentials and made the transfers from another computer. Cuz you know, making transfers on the victims computer in front of them is a bad idea. ANd in that case, the bank should have had multiple qualification checks in place to be able to transact from another pc.
Well I am talking about online banking and such, I feel like a lot of red flags should have gone off if all the money was transferred in one day and since I check my only account balance daily if they did the same you would think they would notice a drop in their funds that they didn't do.
post #18 of 35
See now, my UK bank uses a multi authentication system; once you have entered your account number and password you have to pick three characters chosen at random from your memorable info with drop down boxes. I know that this system isn't flawless, but it makes it a bit harder to hack and renders key loggers ineffective. I just assumed that this was standard practice, and was shocked to find that my Canadian bank doesn't have it.

I understand that this is the client's fault, same sort of thing as if I wrote my PIN on my bank card, but I can't help but think it could be prevented quite easily. And if it can, why not do it? Even winning a court case costs money, even if it is just from lost business.

Edit: And this is a worrying development, at what point are the clients considered to have taken "due care" of their info with online banking? OK this is a pretty obvious case, but it sets a precedent for future cases which aren't quite so clear cut.
Edited by GingerJohn - 6/8/11 at 7:14pm
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post #19 of 35
Requiring banks to have more checks in place for online accounts is up to regulators, not the courts. Write your congressman if you think there needs to be more security on the banks side.
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post #20 of 35
Ouch that sucks...
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Overclock.net › Forums › Industry News › Technology and Science News › [Wired] Bank Not Responsible for Letting Hackers Steal $300K From Customer