Hackers Take $1 Billion a Year from Company Accounts Banks Won’t Indemnify

by Larry Emmott on August 4, 2011

in Management,Security

The linked Bloomberg article is well worth reading for any small business, which of course includes most dentists.

I am such a cheer leader for technology I sometimes take a Pollyanna approach to problems including online security. On the other hand I do admit there are real issues with security, including the security of our dental practice data when we store it online.

The article below describes how many small banks do not have adequate security features in place to protect commercial customers. And what we often forget there is no insurance or federal deposit guarantee for commercial accounts.

“If everyone knew their money was at risk in small and medium-sized banks, they would move their accounts to JPMorgan Chase,” said James Woodhill, a venture capitalist who is leading an effort to get smaller banks to upgrade anti-fraud security for their online banking programs.

via Hackers Take $1 Billion a Year from Company Accounts Banks Won’t Indemnify – Bloomberg.

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