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Ann: Cyber security incident, page-105

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royfern

367 Posts.

13

08/03/21

14:26

Post #: 51600927
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Originally posted by coastwatch24: ↑

it seems the chances of CAN recovering the 3 mil is not looking good.
the responsibility lays with a financial institution that allows transactions to proceed without security confirmation.

For example if you withdraw funds from certain accounts such as online trading or gambling most will request a small amount on first withdrawals of say $1.58 to be transferred with a confirmation from the receiver for the amount deposited. Now this is for amounts nowhere near 3mil so what happened to the safe guard in this instance.

We have had electronic banking pushed down our throats by banks so they can close branches and save on running costs but its not secure. In my family alone we have been hacked 3 times on 2 separate accounts in the last year.

on another occasion we have been sold a stolen phone on ebay, electronic fraud squad from qld done there best but had no luck, paypal refused to reverse payment even with ebay taking our side.

Online payments and the lack of security is the sole responsibility of the idiots that created the mess, which is actually two guys who made it possible so they could sell porn online back in the 80s.

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I agree with what you have said. Would they have any Insurance to cover this ?

CAN Price at posting: 62.5¢ Sentiment: Hold Disclosure: Held
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Last 4.0¢		Change -0.001(2.44%)		Mkt cap ! $18.74M

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Price($)	Vol.	No.
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0.042	100876	3
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