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The NYTimes has a cautionary tale of automated clearing house fraud. Parties unknown siphoned money from an individual’s bank account. Nothing too unusual there, except that it was an elite private banking account at JPMorgan Chase, and the account holder is out $250K — the bank will only cover $50K of his loss. The $300K came out of the account in small transactions over 15 months. The bank offered no recourse except to open a new account, a large hassle given that the account is more than 20 years old and its holder writes a thousand checks a month. The article details how the spread of electronic settlements between banks has given rise to growing automated clearing house fraud — if anyone gets hold of the magic combination of account number and bank routing number, and once has permission to withdraw funds, all bets are off. Banks are unlikely to question future withdrawal orders. Moral of the story: go over your bank statements line-by-line every month, and question anything that looks funny.
Read more of this story at Slashdot.
The NYTimes has a cautionary tale of automated clearing house fraud. Parties unknown siphoned money from an individual’s bank account. Nothing too unusual there, except that it was an elite private banking account at JPMorgan Chase, and the account holder is out $250K — the bank will only cover $50K of his loss. The $300K came out of the account in small transactions over 15 months. The bank offered no recourse except to open a new account, a large hassle given that the account is more than 20 years old and its holder writes a thousand checks a month. The article details how the spread of electronic settlements between banks has given rise to growing automated clearing house fraud — if anyone gets hold of the magic combination of account number and bank routing number, and once has permission to withdraw funds, all bets are off. Banks are unlikely to question future withdrawal orders. Moral of the story: go over your bank statements line-by-line every month, and question anything that looks funny.
Read more of this story at Slashdot.
The NYTimes has a cautionary tale of automated clearing house fraud. Parties unknown siphoned money from an individual’s bank account. Nothing too unusual there, except that it was an elite private banking account at JPMorgan Chase, and the account holder is out $250K — the bank will only cover $50K of his loss. The $300K came out of the account in small transactions over 15 months. The bank offered no recourse except to open a new account, a large hassle given that the account is more than 20 years old and its holder writes a thousand checks a month. The article details how the spread of electronic settlements between banks has given rise to growing automated clearing house fraud — if anyone gets hold of the magic combination of account number and bank routing number, and once has permission to withdraw funds, all bets are off. Banks are unlikely to question future withdrawal orders. Moral of the story: go over your bank statements line-by-line every month, and question anything that looks funny.
Read more of this story at Slashdot.
MojoKid writes “A recent study (PDF) by Richard Clayton at Cambridge University determined that the first letter of a someone’s email address directly affects how much spam they receive. As shown in the graph at either link above, email addresses with numbers as their first characters receive even fewer spam emails. The corpus used in the study was 8 weeks’ worth of email from the UK ISP Demon Internet, just over half a billion messages, of which 56% was deemed to be spam.”
Read more of this story at Slashdot.
MojoKid writes “A recent study (PDF) by Richard Clayton at Cambridge University determined that the first letter of a someone’s email address directly affects how much spam they receive. As shown in the graph at either link above, email addresses with numbers as their first characters receive even fewer spam emails. The corpus used in the study was 8 weeks’ worth of email from the UK ISP Demon Internet, just over half a billion messages, of which 56% was deemed to be spam.”
Read more of this story at Slashdot.
MojoKid writes “A recent study (PDF) by Richard Clayton at Cambridge University determined that the first letter of a someone’s email address directly affects how much spam they receive. As shown in the graph at either link above, email addresses with numbers as their first characters receive even fewer spam emails. The corpus used in the study was 8 weeks’ worth of email from the UK ISP Demon Internet, just over half a billion messages, of which 56% was deemed to be spam.”
Read more of this story at Slashdot.
dachshund writes “The Baltimore Sun reports that security firm Independent Security Evaluators has disclosed vulnerabilities in the popular MMORPGs Age of Conan and Anarchy Online. The flaws (which have since been patched) allowed a malicious user to read files from and take control of another player’s computer. The full details of the attack are available, including a video (hi-res MOV) showing how the targeted player’s client can be crashed, and how an attacker can save and run scripts on the victim’s computer.”
Read more of this story at Slashdot.
dachshund writes “The Baltimore Sun reports that security firm Independent Security Evaluators has disclosed vulnerabilities in the popular MMORPGs Age of Conan and Anarchy Online. The flaws (which have since been patched) allowed a malicious user to read files from and take control of another player’s computer. The full details of the attack are available, including a video (hi-res MOV) showing how the targeted player’s client can be crashed, and how an attacker can save and run scripts on the victim’s computer.”
Read more of this story at Slashdot.
dachshund writes “The Baltimore Sun reports that security firm Independent Security Evaluators has disclosed vulnerabilities in the popular MMORPGs Age of Conan and Anarchy Online. The flaws (which have since been patched) allowed a malicious user to read files from and take control of another player’s computer. The full details of the attack are available, including a video (hi-res MOV) showing how the targeted player’s client can be crashed, and how an attacker can save and run scripts on the victim’s computer.”
Read more of this story at Slashdot.