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65 Percent of Major US Banks Have Failed Web Security Testing, Says Report

According to IBS Intelligence, websites run by some of the largest banks in the U.S. have scored the poorest in a new security and privacy analysis audit. “The non-profit Online Trust Alliance (OTA) anonymously audited more than 1,000 websites, ranking their security and privacy practices,” reports IBS Intelligence. “None of the sites investigated knew about the test.” From the report: In the firm’s Online Trust Audit & Honor Roll for 2017 many U.S. banks were among the worst for security and privacy. The industry had both the most failing grades and the least “Honor Roll” recipients. For firms to receive the Honor Roll award, they must achieve an overall score of 80% or higher across three categories: consumer protection, security and privacy. A failure in any of the three squashes its chance entirely. Look away now if you’re a U.S. banking customer, as only 27% of the 100 largest banks in the country made the grade. The figure represents a 28% drop from 2016. According to the OTA, the sector had been showing signs of improvement. Yet, due to “increased breaches, low privacy scores and low levels of email authentication,” things have slipped. Large banks were found to have moderately good website security (17% of failures) but dropped the ball when it came to their email security (45%) and privacy (34%).

Read more of this story at Slashdot.

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