To bank online or not.

There is nothing more convenient to me than clicking to pay the bills!  I don't think I've licked a stamp in 6 years!!  I love online banking.  But, to tell you the truth, I have advised my parents and in-laws and anyone I know who is not computer security savvy, to not do it.  Why?  According to this story, I'm not the only one who feels this way about online banking.  The security risks are real.

However, the banks are working hard and fast to come up to speed and must have implemented two-factor user authentication by the end of this year to remain in compliance with FFIEC guidelines.  They also know that website authentication has to be the next step to make sure that users come to their website and not that of a phisher.  In addition, they know that the web session itself is vulnerable and must be strengthened to the highest level of encryption possible.

Why do I continue to use online banking?  Because my computer is behind a firewall, has a software firewall installed, is up to date on all patches, continuously updates the anti-virus and anti-spyware software and I am vigilant.  But, I am a security professional, so I get it.  The people who don't get it, are people like my folks.  My mom just wants to do what she needs to do and not worry about anything.  So does the secretary at our office, whose home computer we recently wiped out and reinstalled due to spyware problems.

I can't say, at this moment in history, that online banking is recommended.  If you aren't super security savvy, don't.  The banks won't appreciate this advice, but I want you and your money, and your identity, safe.