Security Flaws in Financial Sites Expose Customers to Phishing Threats

Nine out of ten financial web sites contain security flaws that could expose them to phishing attacks, according to a study by Next Generation Security Software (NGS). . . . Nine out of ten financial web sites contain security flaws that could expose them to phishing attacks, according to a study by Next Generation Security Software (NGS).

More than 90 per cent of web-based applications audited by NGS over the last year contained 'trivial security' or 'logic flaws' and approximately a third of the applications contained vulnerabilities that could be exploited to extract volumes of confidential customer information from back-end databases.

The study also revealed that fraudsters were developing increasingly sophisticated forms of social-engineering to trick customers into giving away financially sensitive information.

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