Banks have to come up with an effective solution to tackle internet fraud or guarantee their online services, a new study claimed. Failure to do so could result in 77 per cent of online banking customers cancelling their accounts, claims the UK's Financial Services Authority.
The study sends a reminder of a keynote that president Bush's cyber security czar Richard Clarke delivered early 2002 at the RSA Conference in San Jose. Back then he warned that the lack of security could cripple e-commerce and might just result in unwanted government regulations. Clarke warned for the "dialogue of death" where developers are overlooking security because customers refuse to pay for it.
Clarke has since stepped down, but his scenario has largely become a reality. If only government would step in an hold software developers and enterprises for patches and the inability to patch.
Then we can finally move on to the next generation of computing where we take away the burden of patching from the end user. It's called thin clients and Sun will be very happy to sell you some. Or Google for that matter, if there is any truth to the rumours.
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