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New Zealand Banks Demand a Peek at User PCs
Montgomery Burns III writes with a link to a ComputerWorld article on a ... unique approach to bank security. New Zealand financial institutions are looking for a way to access customer PCs used in online banking transactions. Their goal is to verify the security of the user's terminal. "Under the terms of a new banking Code of Practice, banks may request access in the event of a disputed transaction to see if security protection in is place and up to date. Liability for any loss resulting from unauthorized Internet banking transactions rests with the customer if they have 'used a computer or device that does not have appropriate protective software and operating system installed and up to date, [or] failed to take reasonable steps to ensure that the protective systems, such as virus scanning, firewall, antispyware, operating system and antispam software on [the] computer, are uptodate.'"
In A.D. 2007, internet fraud was beginning.
....
(or: a quiet evening at the Petersons)
Mom: What happen ?
Dad: Someone set up us the malware.
Son: We get signal.
Mom: What !
Son: Main screen turn on.
Mom: It's you !!
BANK: How are you gentlemen !!
BANK: All your PC clients are belong to us.
BANK: You are on the way to destruction.
Mom: What you say !!
BANK: You have no chance to survive make your time.
BANK: Ha Ha Ha Ha
Son: Mom !!
Mom: Take off every 'Internet banking app.' !!
Mom: You know what you doing.
Mom: Remove 'Internet banking app.'.
Mom: For great justice.
My security clearance is so high I have to kill myself if I remember I have it...
....If they choose to connect their financial systems to the internet, thats THEIR choice........
If you choose to connect your computer to bank's computer via the Internet, thats your choice. They have the right to ask you to agree to whatever terms they want. If you don't want to agree, go to a different bank. If all banks require such agreements in order for you to connect to their computers, then just go down to see their tellers or ATM's in person and forget about the convenience of doing some or most of your banking from anyplace you can get an Internet connection. In that case you will have your precious privacy and the bank will not lose money to fraudsters through your faulty, compromised computer. Both you and they get what you want.
The agreement can include a specific clause where you give them the right to inspect your computer, WITHOUT them having to see a judge. Then if you refuse to abide by your express promise, they can cancel your account and/or sue you for a sizable sum.
All theory is gray