Shostack + Friends Blog Archive


More on Preserving the Internet Channel Against Phishers

A new survey is reported in “Privacy and Security Concerns Flatten Interest in Online Banking” (Government Technology):

After years of dramatic growth in online banking penetration, the percentage of Americans who conduct personal banking activities online remained unchanged during the 12-month period ending August 2005. According to results from a new survey of 1,000 American adults conducted by Ipsos Insight, the reasons behind the stall are concerns about hackers stealing and using personal information and fears that some companies may be selling client records to third parties. Thirty-nine percent of Americans conduct banking online.

If the financial industry doesn’t make hard choices soon, then we will see a reversal of the uptake, as users flee to safety. User actions are going to be a trailing indicator of confidence. If you work at a financial institution, ask yourself what you’re doing to keep the channel from being blocked. I’ve discussed those choices in “Preserving the Internet Channel Against Phishers.”

(Via Cotse’s Privacy Watch.)