Cyberspace has become all pervasive. Every facet of a modern life has elements of cyberspace embedded in it. Therefore securing the cyberspace has become a necessity, which can no more be wished away. This space collate the news and views affecting the security of our cyberspace.
Cyber criminals have developed a method to transfer money from the account holders of various Dutch banks.
The criminals use a virus to break into the secure connection between the bank and the accountholder when they are online and insert additional payments to foreign bank accounts.
Each day, several account holders are duped this way. The scheme is known as man-in-the-middle because the criminals place themselves between the bank and the account holder.
The Dutch Banking Association says the man-in-the-middle scheme is just one of the ways in which cyber criminals seek to rob account holders. Another example is phishing, in which people are directed to a phoney website where they are asked to fill in their personal data.