Cyber Criminals And The Internet Essay

2010 Words May 4th, 2016 null Page
Over the past twenty years the banking system has changed and become more efficient for bank customers. Twenty years ago bank customers could not login to their bank account on the Internet and transfer money. However, as the Internet has developed so has online banking. As more people use online banking services the amount of cyber criminals that focus on accessing bank accounts has increased. To log into a bank account in the U.S. a password and security question is needed, in other countries such as Sweden electronic-ID is used to login to a bank account. Because of the current security system in the U.S it makes it easier for cyber criminals to access bank accounts through phishing websites. Phishing websites look similar to bank websites and trick people to enter their login information to their bank. When a person enters their login information the cyber criminals that owns the phishing website are able to access the person’s bank account. On the Internet there are thousands of phishing websites and it is impossible for banks to take all of them down. Therefore, the banks have to choose another direction to protect the assets for their customers.
To make bank customer’s assets safe from phishing websites banks have to implement a new security system. If the banks in the U.S. would implement a security system that makes bank customers login with e-ID it would prevent cyber criminals from accessing bank accounts and steal money. If a bank customer would use e-ID to login…

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