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Banks can't secure the net
8 July 2009 |
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| Internet banking is now so integral to the economy, business and commerce that governments must step in to heavily regulate and secure it or banks must get off the net said long-time critic of internet banking Bill Caelli.According to East & Partners, ninety per cent of business banking customers go online to interact with their primary business bank, 62 per cent use a relationship manager, 59 per cent have a product specialist, 19.5 per cent use ATMs, 9.7 per cent use the branches and 4.8 per cent use a call centre.Adjunct Professor Caelli from QUT called for co-ordinated global action to provide secure web services. “There is a big discussion happening globally about web services such as internet banking. The question is, can you create large-scale secure transaction systems on the web and the answer is coming back as no. The world-wide web was not designed for this purpose,” said Caelli.“The web services systems don't have resilience - that is the ability to cope when problems arise and security. So here we are in a totally unregulated, unsecure environment operating these increasingly critical services. Now, internationally, the question is being asked, why is there no government involvement in this area? Other critical areas such as air transport and pharmaceuticals are highly regulated but web services are almost totally unregulated.” |
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| Source : The Sheet |
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| 31 July 2009 | - Westpac and St George have highest penalty fees |
| | - ANZ slugs pensioners |
| | - Mortgage insurance claims up |
| | - Rural Bank to use Bendigo branches |
| | - CBA extends interest holiday for Storm clients |
| | - Farmers shy away from debt |
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| 30 July 2009 | - CBA to slash penalty fees |
| | - ING joins war against bank fees |
| | - Sydney, Melbourne house prices bounce back |
| | - Transaction accounts – choose wisely |
| | - Workers locked out of cities |
| | - Police tracking down fleeced investors |
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| 29 July 2009 | - New house price bubble forming |
| | - Extra repayments deliver big savings |
| | - Take care with that card |
| | - Interest rate cycle has bottomed |
| | - Real estate agents raided |
| | - NAB axes penalty fees |
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| 28 July 2009 | - Credit unions undercut banks on cards |
| | - Credit unions say no to pushing debt |
| | - $25K profit for super investors |
| | - Investors paying for guarantees |
| | - Online cash available now |
| | - Plain english card contracts - at last |
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| 27 July 2009 | - Sydney auction results lagging |
| | - The price of banking goes down |
| | - Sellers shy away from quoting prices |
| | - Interest free deals downsized |
| | - Look for your lost cash now |
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| 24 July 2009 | - Small lenders angle for more Federal aid |
| | - BOQ made equity loans in breach of lending policy |
| | - ANZ and NAB capital raising worry market |
| | - Costly escape for Macquarie Airports |
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| 23 July 2009 | - Stressed borrowers keep it to themselves |
| | - First home buyers load up on debt |
| | - Aussies turn against debt |
| | - Credit Unions say “we are people’s bank” |
| | - Credit Unions complain about preferential guarante |
| | - 30 days of savings as job queues grow |
| | - Get your tax done for free |
| | - Bankruptcy getting easy |
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| 22 July 2009 | - Interest Rates have bottomed out |
| | - Two ANZ cards for price of one |
| | - Bad debts up at NAB |
| | - NAB needs another $2.75B |
| | - Ads coming to your ATM |
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| 21 July 2009 | - ANZ mortgage service standards on the mend |
| | - Innovation cycle a slow one at ANZ |
| | - Demutualisation worth $1,160 to MyState members |
| | - CIT trades on for now |
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| 20 July 2009 | - Rates outlook looks lower for 2010 |
| | - Aussie John recommends variable rates |
| | - Vendors face fines for underquoting |
| | - Melbourne, Brisbane auction results shine |
| | - ATO checking on bank interest |
| | - Financial advice for $220, no commissions |
| | - CUA appoints new CEO |
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| 17 July 2009 | - Bank customers avoiding ATM fees |
| | - Investors target 2010 to come back to property |
| | - Mates mortgages get grants |
| | - Parents help kids avoid mortgage insurance |
| | - The bad news may be coming to an end |
| | - Infochoice dominating financial comparisons |
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| 16 July 2009 | - Card chargebacks come with catches |
| | - Not enough banks in Australia |
| | - NAB and RediATM join forces |
| | - Investors concerned about fund conflicts |
| | - Aussies targeted overseas banks |
| | - Tax is done already - online |
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| 15 July 2009 | - Aussies keep paying down the card |
| | - Home lending boom continues |
| | - Fixed rate home loans back in style |
| | - Banks crack down on mortgage brokers |
| | - Home builders in insurance crisis |
| | - Bendigo staff asked to take cut |
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| 14 July 2009 | - Ubank attracting term deposits |
| | - Margin lending to be regulated |
| | - No money for email |
| | - Save $60 in supermarket war |
| | - Bankruptcy can save your life |
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| 13 July 2009 | - Banks set rates themselves |
| | - Fewer auctions produce more sales |
| | - Your lender wants to know more about you |
| | - Online crime surges |
| | - Community Banks slowly losing money |
| | - Foreign coins needed by the poor |
| | - Foreign coins needed by the poor |
| | - Foreign coins needed by the poor |
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| 10 July 2009 | - ACCC warns off the big banks |
| | - Laiki launches super loan |
| | - Westpac borrowers get green discounts |
| | - Super funds get into financial advice |
| | - Seinfeld joins the Greater |
| | - Mortgage broker put under a spell |
| | - ANZ's mum & dad shareholders dig deep |
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| 09 July 2009 | - Bank error in your favour – collect thousands |
| | - Low LVRs protect borrowers |
| | - ANZ outsources mortgages |
| | - Huge credit union emerging in NSW |
| | - Bankrupts back in business after 1 year |
| | - ANZ faces more bad debt problems |
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| 08 July 2009 | - No rate cut - yet |
| | - Netbank problems are 'customer related' |
| | - We need a 'people's bank' |
| | - No wage rise for low paid |
| | - Bendigo prepares to bankrupt borrowers |
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| 07 July 2009 | - No rate cut expected |
| | - CBA insists problem resolved with Netbank |
| | - Cash bait catches deadbeat parents |
| | - Save $32k by avoiding a big bank |
| | - SME's get help with loan applications |
| | - SMEs get help with debt |
| | - VIDEO: RBA Announcement - Who Cares? |
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| 06 July 2009 | - Melbourne auctions deliver for vendors |
| | - To fix or not to fix, that’s the question |
| | - Sun, sand and mortgage stress |
| | - Thousands of workers miss out on free $$$ |
| | - Fees eat up investment returns |
| | - The Scud faces repossession |
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| 03 July 2009 | - Customers coming around to CBA |
| | - St George, BT wind back margin lending |
| | - Credit union lending up, profits down |
| | - ANZ employs small biz people |
| | - Guarantee is propping up our banks |
| | - Super investors doing it for themselves |
| | - Suncorp CEO must be a shareholder |
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| 02 July 2009 | - House and unit prices recovering |
| | - Grants avoid property Armageddon |
| | - Personal lending in freefall |
| | - Credit Unions come together |
| | - Fines fees and charges Up Up Up |
| | - Capitalism is wrecking retirements |
| | - Credit card gang behind bars |
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| 01 July 2009 | - Small biz loses contract protections |
| | - Netbank under hacker attack |
| | - Customers happy to say ‘it’s me bank’ |
| | - ANZ winning the war for deposits |
| | - Westpac lags in deposit market |
| | - Bankwest back in the deposit business |
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