Is your money as safe as you think?
I have a question for everyone. Let's say you do your banking with Wells Fargo and you have all of your money with them. Well what if Wells Fargo's main computers were hacked into by a cyber group and they flooded the system with a DDoS attack and the companies website was down for two days. No money was stolen from clients or anything of that sort, but still a vulnerability in the banks system was found and executed upon. Would you keep your money with that bank, or would you go to a new bank due to the fact that it was already proven that someone could hack into even the companies most protected computers? That is a very serious concern for banks these days. Think about all of the clients that would leave if they found out their banks security systems had vulnerabilities that could allow people to steal their personal information and money out of their accounts. In my opinion, bank web security will become the next biggest thing and the best protected banks will be the most successful.
So tell me... Would you switch banks if yours was hacked into by a cyber group?
I am not sure if I would leave my bank right away. However, I do think I would second guess banks all together. I would likely begin storing more of my money outside of the bank. Even though your money is insured by the federal government, if there was a large scale cyber attack on the financial institutions who knows how long it would take to account for all of the missing money and reimburse everyone.
ReplyDeleteI would not leave my bank. I tend not to use large banks for other reasons, but every business and organization that participates in e-commerce is susceptible. No matter how secure a site is, individuals who want to disrupt it will find a way. As much effort as banks and other businesses invest in security, there are people investing an equal amount of effort in finding a way in. Even government organizations and agencies with all of their funds for security are hacked. Although this situation is concerning, I would not leave my bank as long as the problem was corrected.
ReplyDeleteDid you guys ever seen when there's a Comicon in las Vegas, that some dudes walk around with antennas fishing for packets of information traveling through Wi-Fi?
ReplyDeleteAlso, I read that no ATM machine is safe close to where the Comicon expo is taking place.
Looks like nowadays, if we don't have a very strong encryption, that no media is safe to transmit any data.
I would probably not leave my bank. Banks are very susceptible to a cyber attack but they also have very extensive security. I think that once the bank was hacked, they would fix the problem with the security so that it would not happen again.
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