US banks place online customers in danger

North America News.Net
Wednesday 23rd July, 2008

Many US banks have been accused of unwittingly allowing their online customers to take risks with their passwords and other sensitive account information.

University of Michigan researchers have found design flaws in 76% of the 214 US financial institution websites they studied, leaving customers vulnerable to fraud.

The researchers found that many banks silently redirect users to third-party sites, place signs on their web sites which falsely claim they are secure, and improperly use Social Security numbers or e-mail addresses, putting users at risk.

The researchers warned one of the greatest risks to customers occurred when they clicked on links sent in e-mails.

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