A sophisticated online phishing scam which hit Westpac has been scuttled but it's unclear if customer accounts were compromised.
The Commonwealth Bank of Australia (CBA) has commenced a final roll-out of two-factor authentication (2FA) systems that will see 400,000 customers of its NetBank internet banking service upgraded to the secure log-in technology.
National Australia Bank is confident that it has the tools it needs to leapfrog rivals by adopting three-factor authentication, adding an extra means of security to the normal two factors most Australian banks offer customers to secure their transactions.
At least four Australian teenagers have been arrested for their alleged part in an Internet banking scam that has generated millions of dollars.
The combination of an exploit of a serious vulnerability in Internet Explorer (IE) and a phishing e-mail is posing a serious threat to Internet banking users.
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.
Westpac, one of the biggest banks in Australia, experienced multiple hardware failures on Monday and at the end of last week, which caused its online banking service to fall over for hours at a time. What happened to its backup systems?
Online fraudsters are getting smarter and the current round of "phishing scams" may just be the start, according Australian High Tech Crime Centre (AHTCC) head Alastair MacGibbon.
Don't expect Internet scams, hackers, trojan horses and the like to vanish overnight. The challenge is for banks and customers to minimise their exposure to losses. But how?
It is quickly becoming the norm for Australia's largest banks to offer discounts on or completely free computer security software to boost internet banking security. The question is, why?
Peter Cullen, the company's chief privacy strategist, explains how Sender ID can take a bite out of spam and phishing.
Microsoft is gearing up to hold another series of security summits in Australia amid concern over a serious IE flaw and criticism of the time taken to deal with security issues.
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