By Munir Kotadia, ZDNet Australia
12 December 2006 01:26 PM

There was a spike in phishing activity last month, with fraudsters targeting an increasing number of brands and using more sophisticated tools to try and fool online banking customers, according to the RSA Online Fraud Intelligence Report for November.

According to RSA, which recently became the security division of storage firm EMC, an increasing number of financial institutions have been upgrading their online banking systems in order to comply with US regulations. Phishers have been using the upgrade activity to try and exploit users.

Just over a year ago, five US banking regulators — under the FFIEC umbrella — advised financial institutions to “deploy security measures to reliably authenticate their online banking customers”. The global nature of the banking industry means that any such regulations in the US are at least partly relevant for financial institutions based in Australia.

Your Online Security Authority
Bill Wardell

Written by: OSAblogger / Bill Wardell - Please Read Our Latest OSA eZine Edition

Popularity: 7% [?]

OSA Technorati Tags: Australia Online, Bank Security, banking industry, Banking Systems, Emc, financial institutions, fraudsters, Global Nature, Intelligence Report, Online fraud, Online Security, Regulators, Security Division, Security Measures, Security Upgrades, Sophisticated Tools, Spike, Storage Firm, Target, Umbrella

OSA Related Posts

• Online Banking
• Online Banking Basics
• Are you willing to Roll the Dice with Online Security? Banking Online!
• Are You Familiar With Your Online Banking ?
• New Layers of Defense: ID Theft and Authentication, Part 2
• Web safety hits home at Cyber-Security seminar
• Keeping Your Money Safe On the Internet: 10 Methods You Can Ensure Online Banking Security
• Recent Developments in Banking and Investment Law
• Your Banks Security is Only As Secure As Your Banking Habits

OSA Related Websites

• My Experience with Quicken Online
• Find Useful Secrets About Forex Simulator
• Read Useful Tips About Currency Trading Tutorial
• Compare Features When Shopping For An Online Bank
• Could Online Hackers Steal Your Cash?
• How to Fail Financially
• Finovate Startup 2009 Live Twitter
• Banking Online: Is It Right For You?
• Antique Appraisal 101
• Brown wants FSA to investigate Goldman Sachs