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Does the Financial Crises Make Us Less Secure?

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According to an article over at Dark Reading, all the bad news about the financial crises in fact makes banks more vulnerable to social engineering and spear-phishing type attacks.

I guess in an industry that makes sure to kick a dog when it's down, all the high-anxiety in banking has made bank employees more likely to fall prey to the attacks of hackers and cyber-scum. And in a banking era when you have to be ready for almost anything, that means everyone is less ready to defend themselves against message that purport to be from an auditor, or a message that appears to be about the companies welfare.

Last week, the CTO of Errata, a security company, was mistaken for a federal auditor and was able to gain access to an unoccupied office where he made off with a computer backup tape full of transaction data. Others say that this isn't entirely true, that in fact banks always made easy prey.

So no matter how bad the news gets at your bank, just stay away from suspicious emails and funny looking auditors, and for the time being, maybe banks should just return to the inner-office memo that's dropped in your inbox.

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Peter Schooff's blog is a daily look at what's going on in the world of computer security with an emphasis on how it affects businesses.

Peter Schooff

Peter Schooff is Contributing Editor at ebizQ, and manager of the ebizQ Forum. Contact him at pschooff@techtarget.com

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