Research shows UK banks most vulnerable to hacking

A study by Hi-Tech Bridge, an information security service company, has revealed that UK banks' websites are under the highest threat from hackers.

A study by Hi-Tech Bridge, an information security service company, has revealed that UK banks’ websites are under the highest threat from hackers.

The company’s investigation into Global Finance’s Top 50 biggest banks’ main websites showed that 26 (52%) of them had experienced one or more web security incidents.

Bank of America registered the highest number of breaches at 12, while UK banks HSBC and Barclays totalled 10 and 9 respectively.

Commenting on the findings, Ilia Kolochenko, chief executive officer of High-Tech Bridge, said: "The numbers we see are quite impressive, even though our research only covered publicly-known security incidents and we didn’t take into account the more common DDoS attacks or phishing campaigns as they do not involve security of web application directly."

Of the 102 hacking episodes unveiled by the company, 85% were low/medium risks, occurring in 23 of the surveyed websites, while 11 experienced high/critical incidents.

Kolochenko believes the fact that few security incidents occur in the public eye is not to say that web systems have increased in security.

She explained: "It’s more about new objectives of hackers – today they are not looking for glory but for profit, therefore don’t make any noise and compromise web systems without being noticed.

"The statistics confirm that even financial institutions should pay more attention to their web application security, not only to protect their customers but to maintain their digital reputation," she added.

 

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