Banks and security experts cannot agree wether it is safe for banks to continue using e-mail for communicating with their customers because the medium has been hijacked by criminals who try and fool online banking users into divulging their log in details.
Computer security specialists RSA and Computer Associates have been called "stupid" for sending e-mails containing masked links, which are often used in phishing attacks.
The debate over the threat posed by e-mail online banking scams or "phishing attacks" is heating up with security experts accusing banks of ignoring danger signs.
A recent malware attack in which a Trojan encrypts a user's files until the victim pays a US$200 'ransom', could help criminal groups recruit people into money laundering and other 'dirty work', according to security experts.
It took help from three security experts, Citibank's spokesperson, dozens of e-mails and almost a full working day of investigation to confirm that an e-mail I had seen from Citibank was not actually a clever phishing attempt.
It is a hard one to protect against, as attackers prey on the kindness of strangers, but there are some tips to prevent your company being a victim to social engineering ploys. Also: Hackers: Under the hood
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