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Thread: Who should be responsible for Internet Banking Fraud?

  1. #1
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    Who should be responsible for Internet Banking Fraud?

    We often heard that some people internet banking account being hack and loss all their saving, but in actual fact so far there is no local internet banking system being compromise by any hacker. Those who loss their saving via internet banking service are usually leaking their access password to online theft carelessly, capture by virus/trojan software or more commonly fool by phishing email and website.

    Ok, up to this point who is the victim and who should be responsible? The bank? The account owner?

    Now, the story continue... no online theft is stupid enough to stole others login password and transfer fund to their own account, this can be easily traced and asking for trouble. So, the online theft will usually look for another victim, those who sell product online and accept bank transfer as payment. The theft place order online and pay via stolen internet banking login. The merchant confirm payment and delivery the goods. Few days later or even weeks later, the account owner, the bank and police get involve in the case and the bank decided to "refund" the account owner from the merchant account.

    So, who is the real victim here?

    The account owner, doesn't care much about security and simply enter their login password here and there, but their money is well protected by the system.

    The bank, didn't offer a system that is secure enough to authenticate the real user, but can get out of it clean.

    The merchant take care of their internet security seriously, they install firewall, anti-virus, anti-spyware and never fall into any trojan, phishing email, phishing website trap, but still end up losing money to internet banking fraud.

  2. #2
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    The whole blame should go to Bank Negara Malaysia, the Ministry of Finance and the government which:

    1. Banned Internet banking for many years, thereby ensuring that Internet banking in Malaysia is far behind other countries.

    2. Have ensured that we have an ineffective justice system. What was this about the "world's leading Cybrelaws" again? Zero, null and void.

    3. Dabbles in appointments of bank directors and managers so that a lot of incompetent people are promoted.

    4. Enforced bank mergers so that the well-run banks (e.g. Phileo, Pacific etc) were taken over by badly run banks.
    See you...

    Isa Rahim

  3. #3
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    Quote Originally Posted by isarahim
    The whole blame should go to Bank Negara Malaysia, the Ministry of Finance and the government which:

    1. Banned Internet banking for many years, thereby ensuring that Internet banking in Malaysia is far behind other countries.

    2. Have ensured that we have an ineffective justice system. What was this about the "world's leading Cybrelaws" again? Zero, null and void.

    3. Dabbles in appointments of bank directors and managers so that a lot of incompetent people are promoted.

    4. Enforced bank mergers so that the well-run banks (e.g. Phileo, Pacific etc) were taken over by badly run banks.
    I agree 100% on all points.

  4. #4
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    Quote Originally Posted by isarahim
    The whole blame should go to Bank Negara Malaysia, the Ministry of Finance and the government which:

    1. Banned Internet banking for many years, thereby ensuring that Internet banking in Malaysia is far behind other countries.

    2. Have ensured that we have an ineffective justice system. What was this about the "world's leading Cybrelaws" again? Zero, null and void.

    3. Dabbles in appointments of bank directors and managers so that a lot of incompetent people are promoted.

    4. Enforced bank mergers so that the well-run banks (e.g. Phileo, Pacific etc) were taken over by badly run banks.
    Why always the government get the blame? After all our government is choose by our rakyat, so why not blame the rakyat then?

  5. #5
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    Quote Originally Posted by burntan
    ...Those who loss their saving via internet banking service are usually leaking their access password to online theft carelessly, capture by virus/trojan software or more commonly fool by phishing email and website.
    Don't understand what you are going about. You even answered your own question as above then side-track to a different issue by stating

    "Ok, up to this point who is the victim and who should be responsible?



  6. #6
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    Quote Originally Posted by burntan
    Why always the government get the blame? After all our government is choose by our rakyat, so why not blame the rakyat then?
    I am on the operating table under the scalpel of this surgeon whom I chose.
    I chose him for the skills that I am told he had.

    The punk takes out my right kidney instead of my left.

    Yes I will blame the surgeon.

    I will not allow the surgeon to tell me :
    " WHY U CHOOSE ME ONE? U OSO MUST TAKE BLAME"

  7. #7
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    Quote Originally Posted by burntan
    Why always the government get the blame?
    That's incorrect. They only get blamed when they so deserve, albeit that's pretty often these days.
    After all our government is choose by our rakyat, so why not blame the rakyat then?
    I think you're the worst UMNO-zombie I've ever come across.

    Democracy mandates that it's the government which is directly responsible for passing laws and making policy decisions. The government is there to serve the rakyat, not the other way around. It's the role of the rakyat to continuously highlight any bad decisions so that it can influence elections of MPs and hence governments.
    See you...

    Isa Rahim

  8. #8
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    Why the crook who perpetrates the Internet crime of course!!

  9. #9
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    Btw you can all help by reporting phishing attacks to this site:

    http://phishtank.com

  10. #10
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    Quote Originally Posted by isarahim
    ...........I think you're the worst UMNO-zombie I've ever come across............
    And a de-brained automaton at that. En Bakar is probably paying UMNO back for favours granted.

  11. #11
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    Quote Originally Posted by isarahim
    .............It's the role of the rakyat to continuously highlight any bad decisions so that it can influence elections of MPs and hence governments.
    ...... and isarahim, u really think that this chappie does not know that ?
    He knows but wants to be seen it the eyes of his political handlers in UMNO, to be fighting "foes" and defending the likes of the morons in our gormen.
    Wld it surprise you isarahim, if I told u that every gormen and gorwoman probably thinks in exactly the same lamebrained manner as En Bakar ?

    We put them there .... we are paying the price.

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