Westpac Bank is set to improve its security credentials and tackle card swiping scams by issuing credit card holders with chip-embedded smartcards.
Westpac has admitted that the details of around 1,400 Virgin credit card customers were exposed last week when its system security was breached, but Australia's fourth largest bank has washed its hands of any blame.
Credit card users will be given the option of entering a PIN as an alternative to signing their name to authenticate a transaction under a banking industry initiative scheduled to start today.
Security researchers from Cambridge University have discovered a way to attack chip and PIN cards -- and warn only Martian cardholders are safe from the exploit.
At Westpac's annual earnings announcement today, CEO Gail Kelly picked the bank's technology operation as its most notable 'low light' in a year that saw hundreds of IT staff, including the bank's tech titans, purged and replaced with new blood.
The Commonwealth Bank stands alone as the only top tier bank in Australia with its sights on biometrics as a means to improve security for its customers -- but critics say the technology is still too young.
Security weaknesses in Microsoft's server and browser software are taking their toll on Australian Internet banking sites.
A coalition aiming to junk e-mail unites behind a US law but stumbles over a technology solution.
A new phishing e-mail aimed at diverting donations to the Australian Paralympic Team has emerged -- complete with a coding error which means that the cold-hearted scam is unlikely to work.
Sceptical that Australians are targeted by cybercrime? Late last year the Australian Computer Emergency Response Team (AusCERT) was asked to repatriate hundreds of Commonwealth Bank customer credentials which had been stolen via the ZeuS trojan.
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