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Effective December 31, 2012, articles are no longer being updated on this web site.
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BANKS FAIL CYBER-ATTACK TEST

Source: ZDNet Australia

Posted on May 7, 2001

      Out of three million Web sites tested worldwide, 80 percent have been given the thumbs down when it comes to security vulnerability, exposing a large number of organizations and governments to hackers, criminals and vandals.

      The study, by Unisys Australia Architecture Director, IT Security Consulting Services Ajoy Ghosh, randomly tested three million .com, .net, and .au domains for security holes, finding 80 percent of Web sites transacting on the Internet open to damage and theft as the correct technology is not in place.

      The study further revealed that Australian banks were among the Web sites most open to online attack.

      On a global scale, Visa and Mastercard credit card fraud will increase from AU$2.8 billion to AU$5.6 billion by 2002.

      According to Ghosh, the .au space also reflected 80 percent of those sites, which did not have the correct security in place.

      Furthermore, over 90 percent of .edu Web sites are exposed to "cyberterrorism". According to Computer Society Institute, one in every three intrusions occurs when a firewall is in place. Ajoy says organizations need to implement the appropriate technology, as firewalls alone are not going to protect a site from being attacked.

      One of the problems is the technologists are driving business decisions to adapt inappropriate protections, leading to huge dollars being spent on the wrong technology. "Technologists exploit the fear of cyberspace. As with PKI, companies are putting it on their systems for the sake of it," he said.

      Recent research by Gartner analysts revealed only 25 percent of companies in Australia will achieve full compliance of their security policies by 2001. Ajoy says "if you manage IT security appropriately, you can do all the things you always wanted to do on the Internet - but were previously too scared toS"




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