Comments on: Unauthorised Withdrawals from Banking Accounts http://www.meshio.com/2009/01/unauthorised-withdrawals-from-banking-accounts/ Premiere Malaysia Personal Finance, Wealth Management, Investment, Insurance and Estate Planning Resources Thu, 09 Feb 2012 03:18:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: mtsen http://www.meshio.com/2009/01/unauthorised-withdrawals-from-banking-accounts/comment-page-1/#comment-674 mtsen Wed, 07 Jan 2009 23:02:05 +0000 http://www.meshio.com/?p=1750#comment-674 this kind of news come out once in a while, especially when someone is going to become a prime minister or so ... but the truth is that the whole finance industry is really young and naive, especially when we still use 'checks' as 'contractual payment' despite the today's inter bank linkage.<br><br>having said that, IT industry is 10 times younger than Finance ... still.<br><br>Imagine Citibank credit card online is rewarded as the best 'security' facility many years and yet its one of the few cards who do not require extra authentication when paying online. this kind of news come out once in a while, especially when someone is going to become a prime minister or so … but the truth is that the whole finance industry is really young and naive, especially when we still use 'checks' as 'contractual payment' despite the today's inter bank linkage.

having said that, IT industry is 10 times younger than Finance … still.

Imagine Citibank credit card online is rewarded as the best 'security' facility many years and yet its one of the few cards who do not require extra authentication when paying online.

]]> By: Marvin Lee http://www.meshio.com/2009/01/unauthorised-withdrawals-from-banking-accounts/comment-page-1/#comment-675 Marvin Lee Tue, 06 Jan 2009 21:50:59 +0000 http://www.meshio.com/?p=1750#comment-675 There are a hundred and one ways for people to get money especially through scam, fraud, phishing and fear.<br>I believe most unauthorised withdrawals from banking accounts are due to the account holders not being educated about how the security of the banking systems work.<br>Eg, what is phishing, how does TAC authorizes a transaction etc.<br>Most banks only updates their website with pages and provides warning, people might actually get conned when they are not made known of ways fraud happens especially those not so tech-savvy. There are a hundred and one ways for people to get money especially through scam, fraud, phishing and fear.
I believe most unauthorised withdrawals from banking accounts are due to the account holders not being educated about how the security of the banking systems work.
Eg, what is phishing, how does TAC authorizes a transaction etc.
Most banks only updates their website with pages and provides warning, people might actually get conned when they are not made known of ways fraud happens especially those not so tech-savvy.

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