Via IT News -
Marcus Agius, the chairman of UK-based Barclays Bank, has had £10,000 stolen by an identity thief.
It was down to human error. Procedures were not followed fully and we have learned from it," Barclaycard told the BBC.
"All Barclays customers have a 100 per cent fraud guarantee as long as they take reasonable care of their information."
The bank has introduced a new security code word system for senior employees so that the same incident could not happen again.
Experts have already warned that 2008 will be a bumper year for identity fraudsters.
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Classic, now "senior level employees" have a new security code to help protect their money....
WTF? What about the rest of the world?
I will agree, that this security measure wouldn't be very helpful if applied to every user (we have PINs already right), but why create some special new security feature just for senior level employees?
How about SE training for call centre employees? How about putting additional measures in place that increase security for all?
You don't have 10k in your checking account, he probably did.
ReplyDeleteIt's simple economics.
Collectively, all Barclays customers have more than 10K...so why not take this event and put in place measures that increase security for all customers.
ReplyDeleteClearly, there was some problems at the call center since "procedures were not followed". What did they do about that?
As I stated, adding a new code might work for a special group, like high level employees, but that wouldn't work with applied to the whole customer base.