Topic: Web Security (Internet Banking) Essay

1054 words - 4 pages

In our society today, web security has enhanced rapidly, especially in internet banking. Internet banking is a new method for individuals to view their financial information online. Although this new integrated method is more convenient, it also has risks. In the past, databases for banks were only accessible to employees and threats damaging the databases were rare. However, society has changed since then and technology is continuously advancing by the second, making companies more susceptible to the external threats such as viruses or worms. These threats are only a few to name, for there are thousands that can manipulate the information in your documents. Moreover, because of the increasing amount of external threats, bank databases must have the highest level of security to be sure that they can protect their client's information as well as their own. If the highest level of security is not integrated, a client's information can be tampered with in a matter of seconds.With the amount of external threats accumulating each day, internet banking can create unbearable chaos in many individuals' lives. The importance of web security lies within these reasons: clients can be left with their accounts tampered; banks will lose their reputation for providing inadequate services and insurance companies will lose money because banks will have to claim their insurance. A real life example of chaos happening is when a fake website in 2003 was made to fool clients of a specific bank to give their passwords and usernames. This website had a similar interface to Hong Kong's bank called HSBC. "The person who designated this website had a pop up window appear in many individuals' web browsers, asking them to enter their user ID and password" [1]. The reason stated was because the bank was having an emergency andPage 2 of 6needed to store all the clients' information again or else it would be lost. Frantic and confused, clients entered their user ID and password not realizing that it was all a set up for a disaster. Overnight, the person who designed this fake website gained a million dollars, and left client's hearts broken and the reputation of the HSBC bank to fall apart. This example shows the importance of why web security should be at top notch in order to fully protect the company and its clients.Furthermore, another reason why web security needs to be at its highest level is because of malicious threats. "Malicious threats include attacks that are specially intended to cause harm to people, systems, and the networks of organizations" [2]. There are different types of menaces in this world, but a few examples are viruses, worms, and Trojans [3]. With a single click, a virus can enter you computer and spread itself among the documents on your computer. With worms, once they are into your computer they continuously reduplicate themselves until it fills up all the space in your CPU drive. The difference between viruses and worms is that viruses have its own...

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