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Security related anecdotes in financial

By bizwiz ·
Help! Does anybody have first hand experience re. security related anecdotes involving financial services industry? I am writing a research paper involving my graduate class on Internet Security. Paper due Wed 7/16.

Thanks

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???Confused

by LordInfidel In reply to Security related anecdote ...

What exactly are you looking for?

When I think of an anecdote, I think of a brief story about something that has a point to it.

Was there some specific angle you were looking for?

A general anecdote for security for a financial firm is; Security never ends. Nothing ever get's transmitted in the clear. And never trust anyone.

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Financial services info. security

by bizwiz In reply to ???Confused

My Lord!

Angle pref. is infosec anecdotes or war stories/first hand experiences as it relates to financial services industry

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Historical Issue

by Oldefar In reply to Security related anecdote ...

In the early 1980's banks were moving to automated accounting between branch offices and their main offices. Dedicated analog lines, often multidrop, were used to provide both real time and daily total transactions. The concern for security and the fear of hacking existed even then, and often with as little an understanding.

A branch office had a window broken and a Dataphone 4800 modem stolen. The modem was wired to the branch controller, and in pulling the modem out of the window the controller had been toppled to the floor. Bank security, the branch manager, and the local FBI office responded. As the field engineer for the bank system vendor I was also sent to the branch.

The FBI was extremely concerned that the job was the work of pros who would use the modem to access the bank computer and steal millions. I had a difficult time explaining to them how communications worked, why such a scenario was highly unlikely, and why I suspected kids who thought they were stealing a stereo.

Apparently my guess was correct. The bank security officer walked around the bank and found the modem lying on the ground several 100 feet away from the window. While it had a "cool" smoke glass type front and blinking red LED's, they soon discovered it lacked any knobs. :)

In the long term, the FBI were correct if premature in their assessment of potential risks from electronic banking.

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Security related anecdotes in financial

by bizwiz In reply to Historical Issue

Thanks for sharing that info.

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