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November 10, 2004


Banks suffer security loopholes

The BBC reports that Morgan Stanley had to take corrective action on their website:

A security loophole at a bank allowed easy access to sensitive credit card information, the BBC has found.

The Morgan Stanley website allowed users to access account details after entering just the first digit of a credit card number.

The shortcut would only work if the account holder had set up the computer to automatically save passwords.

Password saving should not be available on financial websites and Morgan Stanley has now disabled the facility.

As reported here: Bank moves to close web loophole

This follows close on the heels of Cahoot security flaw, where users were able to surf other people's accounts from their own, as reported here: Cahoot hit by web security scare

And to think that I complained a little over the somewhat awkward security system set up for users at HSBC, in the community thread How did you choose your business bank?. Well, at least it keeps my business finances protected -so far, at least.

Posted by brian_turner at November 10, 2004 09:46 AM

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