• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

ITGS Portfolio :: Frauds in online banking -review of a news article.

Extracts from this document...


ITGS PORTFOLIO 2 TITLE : FRAUDS IN ONLINE BANKING NEWS ITEM : http://business.smh.com.au/business/anz-warns-of-malicious-virus-20090205-7ylr.html WORD COUNT : 854 AREA OF IMPACT : BUSINESS AND EMPLOYMENT NAME : Ishaan Khanna A: PRESENTATION OF THE ISSUE The Australia and New Zealand Banking Group Limited commonly called ANZ is the fourth largest bank in Australia after the Commonwealth Bank, the National Australia Bank, and Westpac Banking Corporation. [birgitdaube.de] ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2004 and where it operates two brands, ANZ and the National Bank of New Zealand. ANZ warned its customers to be careful of a fraudulent portal of a website that is generated by a virus which resides on a user's computer that generates a form which requests the account holder for personal details. The problem being faced is as follows: Trojan horses enter as attachments in the inbox of a user but once they are opened, they secretly install programs which cause great danger. ...read more.


Customers who accessed the banking portal lost important data. The Trojan horse stores personal data by planting malicious codes and scanning sequences of letters and numbers with a keyboard scanner. The data reaches the place where the hackers are operating from and they gain easy access to such private and confidential data. C: IMPACT OF THE ISSUE The Trojan horse also known as Trojan is a virus that appears to perform a desirable function but in fact performs secretive malicious functions which enable unauthorized access to the user's machine. [answers.com] This issue is not related specifically to ANZ Bank. It is related to all banks in general and this problem of hacking by Trojan horses can occur in various other banks as well. Customers will face severe losses if personal and sensitive information falls in the hands of hackers and this may eventually affect thousands of customers and the entire bank may shutdown due to disappointment of customers and loss of trust in the bank. ...read more.


To prevent the virus which could arrive with any attachment the bank recommended usage of advanced antivirus software. The bank issued a warning to its customers to be careful of changes on websites of banks. If there is any problem of any kind the customers should immediately call the company and ask for solutions to the problem. [theage.com] As a Trojan horse has many forms, there is no standardized way to delete them. The easiest responses used to clear temporary internet files and to delete them. Normally, antivirus softwares detect and remove Trojans, however if the virus cannot be found by the antivirus, booting the computer from other sources, such as a live CD, allow an antivirus program to delete a Trojan. Updated anti-spyware programs can also be of great use. Most Trojans also hide in registries, and processes. [answers.com] . Keys for generation of signatures and encryption can be stored on smartcards which depends on the concrete implementation. [pc1news. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Misc section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Misc essays

  1. From the play Merchant of Venice by William Shakespeare, anaylsis the relationship between Antonio ...

    I also read about how Bassanio is a person who takes risks and is willing to make the same mistake twice in order to accomplish something. I say this because he tells us of the story of the arrow and how he would fire a second one in the same manner in order to determine where the first one went.

  2. English A1 HL - Detailed Plan & Commentary on Planting a Sequoia

    the father is hoping that the sequoia will somehow carry forward the essence of his son. * Theme: planting a sequoia to represent the death of a father's first born son. * Structure: 5 stanzas, 5 lines each. * Poem addressed to tree.

  1. ITGS portfolio Privacy and security issues that arise when using Health Information Technology to ...

    your doctor, and other health care providers (such as hospitals, labs, and X-ray facilities) to store, share and access your health information. Using computers in this way is known as Health Information Technology (HIT) or Health IT. Using Health Information Technology Health information technology may be useful for: * reducing

  2. Databases Portfolio

    Database Portfolio 4 Ammar Abouelghar Mr. Mckie Criterion A (Presentation of the Issue) Databases are ways of saving, storing, organizing and manipulating information. More and more companies and organizations are starting to use databases instead of paper based information. One of those organizations is the health organization.

  1. ITGS portfolio Loss of employment and privacy issues regarding the rise of online grocery ...

    The rise of using online grocery shopping would result in a loss of employment for many members of the society. Also, public communications would be a factor that will be affected. As the employment number from grocery stores decrease, so will the ability of people to interact with people in the society and community.

  2. ITGS Portfolio :: Are Wi-Fi networks safe? My interview with an IT expert.

    The research done indicates that the major issue regarding the Wi-Fi network is that Wi-Fi networks are not secured and are being misused to send threat emails and gain personal information of the user.

  1. ITGS portfolio Education games

    Thought there are only some games, which can teach, these games are generally meant for the children between the age group of three to thirteen, as the higher studies cannot be taught via a game, for example calculus, it becomes very difficult to teach it through a game.

  2. Uses of Encryption

    One of the reasons why the U.S. government eventually dropped most encryption-export controls is because the economic harm those controls would have had on the U.S. economy. It was estimated that keeping the encryption-export controls would have resulted in a loss of 200,000 and $60 billion over a period of four years.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work