New banking code cracks down on out-of-date software
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The banking industry has re-affirmed a policy that makes online banking customers responsible for losses if they have out of date anti-virus or anti-phishing protection. New Banking Codes for consumers and businesses took effect on Monday.
The Banking Code produced by the British Bankers’ Association (BBA), and followed by most banks, makes it clear that banks will not be responsible for losses on online bank accounts if consumers do not have up to date anti-virus, anti-spyware, and firewall software installed on their machines.
“If you act without reasonable care, and this causes losses, you may be responsible for them,” says the code. “This may apply, for example, if you do not follow section 12.5 or 12.9.”
Section 12.9 says: “Keep your PC secure. Use up-to-date anti-virus and spyware software and a personal firewall.”
This is just a way to weasel out of responsibilities. Let me quote two Slashdot comments:
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Let’s see, just exactly WHO should be responsible for the banks’ security? Some random customer who is using them, or a staff of professionals whose entire industry is founded on the protection of money belonging to random customers? Seriously, if the banks were to pull that stunt on me, I’d switch to cash as there’s absolutely no reason to use the banks if they’re not going to offer me basic safeguards.
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Suppose one is running a hardened version of OpenBSD on some PA-RISC machine. Suppose then that this person’s bank account is drained out and that said draining has NOTHING to do with their computer or OS. Suppose it’s drained by someone who prints checks with a random bank account number on them and it just so happens to be this OpenBSD user’s bank account. Again, the theft has NOTHING to do with their computer, OS, computing practices, or hair color. What will happen? Will the bank file a discovery motion to check if the person has anti-virus software on their hardened machine? What? No anti-virus software? Never mind that there is no virus to check for.
I’m not about to go and run Norton Antivirus on my Mac. Would that mean I’d be screwed if I use this bank? The only way to be sure: go to another bank.