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By Dan Ilett
Posted on ZDNet News: Apr 5, 2005 6:34:00 PM

International bank HSBC is suffering thousands of virus attacks a day, a top executive at the company has revealed.

Speaking at the e-Crime Congress in London, Alan Jebson, HSBC's group chief operating officer, said that the bank often received tens of thousands times that figure.

"I was interested to hear it was seven attacks a day," Jebson said. "On our worst day last year, we had 100,000 attacks."

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The British technology police, the National Hi-Tech Crime Unit, said Monday that U.K. companies receive an average of seven viruses a day.

HSBC holds more than a trillion dollars in assets, making it a tempting target for virus writers and hackers. But e-mail identity theft scams are posing a greater threat to the bank's 18.9 million online customers, Jebson said.

"We are naturally very concerned about anything that would damage online banking," Jebson said. "Customers will only do business online if they are convinced it is secure. Customers are no longer sure whether e-mails from financial institutions are genuine."

Phishing schemes typically use e-mails that appear to come from trusted providers such as banks or online retailers. The e-mails contain links to fake Web sites that seem to belong to those companies, but that are actually hosted by the fraudsters, who hope to lure victims into handing over confidential information such as passwords and credit card numbers.

"There is evidence that frauds are damaging consumer confidence," Jebson noted. "Research has shown that the take-up of (e-commerce) is slowing."

Jebson emphasized that banks and customers need to cooperate in their efforts to thwart scammers. He said that HSBC is cooperating with the likes of Citibank to share information on security, and the bank is even considering the use of biometrics in three-factor authentication--where a customer would need to supply three different pieces of information to prove identity.

"The harder we make it for criminals to access accounts, the harder we make it for the public. But this is a game we cannot afford to lose," Jebson said.

Dan Ilett of ZDNet UK reported from London.

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  • Most Recent of 63 Talkback(s)
eCommerce Security / Virus
As the white collar crime increases, the public or
consumers always pay the price. Rather than continue
to increase the security and require 3 forms of identity, I
think more effort and d... (Read the rest)
Posted by: dlwz3@... Posted on: 05/02/05 You are currently: a Guest | | Terms of Use
By and large, this is not a big deal  Real World | 04/05/05
Re: By and large, this is not a big deal  Mack DaNife | 04/05/05
Sorry, I should have been more clear  Real World | 04/05/05
turning away from eCommerce TRUE  Pixel_dust | 04/05/05
That's a raw deal  Real World | 04/05/05
thanks  Pixel_dust | 04/05/05
Video problems?  lcates@... | 04/05/05
vacuum time  Pixel_dust | 04/05/05
A Couple of Good User Forum Sites  t.e.sumner@... | 04/05/05
Get Your Data Back  brian.giordano | 04/05/05
Assuming it is not a virus.  lcates@... | 04/05/05
Childs is even older than mine is  Pixel_dust | 04/05/05
Which Window? XPHome, XPPro, 2k, Me (God, not Me, please!)  The King's Servant | 04/05/05
XPHome  Pixel_dust | 04/05/05
Ah, now we have limited the issue.  The King's Servant | 04/05/05
Thanks to all for your help  Pixel_dust | 04/05/05
Sugestions  Real World | 04/06/05
if your trying the bios...  jdahs@... | 04/05/05
F8 does nothing  Pixel_dust | 04/05/05
just a suggestion  lapwizrus | 04/05/05
Vacuum  lcates@... | 04/05/05
Vacuum addnedum  Linux User 147560 | 04/05/05
Dead PC  flan4u | 04/05/05
Reboots?  Real World | 04/06/05
Call DELL Tech support  johns_z | 04/05/05
Dell hangs on boot  paule4@... | 04/06/05
Dell hangs on boot  johnrich | 04/11/05
put it back in the box  afterbrnr | 04/05/05
Don't put it back in the box  johnrich | 04/11/05
Not a software problem?  danag42@... | 04/06/05
Another suggestion: memory  feskridge@... | 04/06/05
Therin lies the problem...  BitTwiddler | 04/05/05
Without foreign ISP action, there's no solution.  sdgreen42 | 04/05/05
Small correction  douglen@... | 04/05/05
Correction agreed...  sdgreen42 | 04/05/05
Small correction  johnrich | 04/11/05
What about Comcast?  JMusto | 04/05/05
RE:What about Comcast?  flan4u | 04/05/05
Domestic zombies, asian, So American links  Hsbarney@... | 04/05/05
Browser flaw helps phishers  mikew_z | 04/05/05
Try this  phobos | 04/05/05
Use two browsers for security  Wagadonga | 04/05/05
Security of communications  stevem_001 | 04/05/05
What is with ASP?  JMusto | 04/05/05
Or,...  The King's Servant | 04/05/05
MS couldnt scan your system with high security  NotMSUser | 04/06/05
What is it with ASP?  johnrich | 04/11/05
Nothing to see here- VIRUS=MICROSOFT  Xunil_Sierutuf | 04/05/05
HSBC deluged by viruses  ncawthray@... | 04/05/05
Phishing  ydnas | 04/05/05
viruses  kemcrest@... | 04/05/05
viruses? you mean phishing  johnrich | 04/11/05
Dell laptop will not boot  ardlur@... | 04/05/05
a virus is a WINDOWS problem  JV711 | 04/05/05
virus attack does not equal virus infection. the virus laden email that is  wessonjoe | 04/06/05
Who's really at risk?  clazaam@... | 04/05/05
the biggest security risk is writing a password down for anyone to read.  wessonjoe | 04/06/05
That is what you pay for using Microsoft platform only.  systemcleaner | 04/06/05
HSBC  Tomchance | 04/06/05
Bugs Viruses and Worms  pgbev | 04/06/05
Bank Security  jack@... | 04/07/05
HSBC - Surprising??  nicari | 04/14/05
eCommerce Security / Virus  dlwz3@... | 05/02/05

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