Internet Banking News

August 1, 1999

1) The Year 2000 interagency fraud alert issued earlier this month would make a good link off Your Bank's Year 2000 web page. I have reproduced the statement in htm format, which you can copy to make your own web page at http://www.thecommunitybanker.com/y2k_fdic7699.htm or you can refer your visitors to this link.

2) This week the Clinton administration has proposed a plan in which the FBI would oversee a computer monitoring system intended to protect the nation's data networks from intruders was reported by The New York. The Federal Intrusion Detection Network, or Fidnet, would alert authorities to computer attacks that could cripple government operations or the nation's economy. The system, to be implemented by 2003, also calls for monitoring activities on non-military government networks and those in key industries such as banking, telecommunications and transportation. This week the United Kingdom recommended changing the Data Protection Act to allow for monitoring bank accounts, tax returns, and medical records.

COMMENT - How do you feel about the government having access to your bank's Internet activities? In order to monitor for "hacking" it would seem to me that the FBI will need access to your Internet files. Please e-mail me your thoughts about the government monitoring your Internet activities for intruders.

3) INTERNET SECURITY - Last week I covered three issues that should be included in your information system's security policy. Prevention was discussed last week. This week I am covering "detection" which is:

Detection measures involve analyzing available information to determine if an information system has been compromised, misused, or accessed by unauthorized individuals. Detection measures may be enhanced by the use of intrusion detection systems (IDSs) that act as a burglar alarm, alerting the bank or service provider to potential external break-ins or internal misuse of the system(s) being monitored.

Next week I will cover Response.

IN CONCLUSION - If you have had an IS examination that dealt with your Internet activities, I would appreciate hearing about what issues the examiners covered.

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