What are the risks of online banking? Has anyone developed best practices for consumers and bankers regarding security?
I do about 100% of my banking online. I have three savings/checking accounts that are linked to my credit cards/investment accounts/bill paying systems/etc.
What happens if my money is gone one day?
Presumably, banks would be liable to consumers to the extent that the theft came through a failure in the bank's security. But it seems like whether a breach was a result of the bank's security failure or a user's failure could be covered with a lot of gray.
FDIC insurance would presumably cover deposits in the event of a bank failure.
I don't even pretend to know how this would happen, but there seem to be a lot of points at which it could:
2. My internet access points (laptop, work, phone)
3. Man in the middle/Phishers/other intermediary exploits
4. Any number of other points within the banking system
It seems like this is going to happen at some point, but you never hear about this on a broad policy level. Who's thinking and writing about the implications of this and best practices to avoid risk?
I read Threat Level
and Bruce Schneier's blog
, but both tend to be focused on actual tactics more than policy in this area.