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Internet bankers beware

Johannesburg, 22 Jul 2003

Striata, a leading specialist in e-billing and multi-channel messaging, has cautioned South African online users to be vigilant about opening e-mail that may contain viruses or Trojans. The best way to do this is to regularly update anti-virus software. This advice follows news that money has been stolen from bank accounts via the Internet.

Says Michael Wright, CEO of Striata: "Although incredibly frustrating to those directly involved, situations like this are often a much-needed wake-up call for Internet users. Internet banking is wonderfully convenient and far more secure than, for example, sending a cheque through the mail - but that does not mean that we can afford to be complacent when it comes to security."

Latest reports cite that the hacker gained access to Internet banking accounts by sending an e-mail to certain clients' home computers. When the e-mail attachment was opened, a computer virus (known as a 'Trojan') was downloaded that captured confidential bank account details and PIN numbers and sent the information back to the hacker.

Says Wright: "As with anything, Internet banking and e-mail can be used either for good or for bad - the same is true of credit cards and ATM machines. We don't need to avoid using these mediums, we just need to be more careful."

Wright emphasises that the theft of funds did not involve a breach of the bank's security but rather a breach of the personal security of individuals involved.

"This is a clear case of identity fraud," says Wright. "The hacker could quite easily have chosen to target any system that is password protected."

According to Wright, anyone with password protected information needs to ensure they have licensed anti-virus software installed on their PCs, and that this software is updated weekly via an automated subscription process.

"It is also vital that e-mails from unknown sources are treated with care," says Wright. "If you do not recognise the sender of the e-mail, be careful about opening any attachments. Even picture files can be wrapped in a virus."

Wright also recommends ensuring that unauthorised people do not have access your PC.

"And don't leave your banking username and PIN number where someone else can find it," he continues. "Some people go so far as to have it written on a post-it note stuck to the side of the screen!"

The bottom line is that we live in a connected world. We need to make sure that we take adequate precautions for the risks that this entails.

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Editorial contacts

Shelli Nurcombe-Thorne
Striata
(011) 530 9608
shellin@striata.com