{"id":43839,"date":"2019-02-15T10:58:21","date_gmt":"2019-02-15T15:58:21","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43839"},"modified":"2019-02-15T10:58:24","modified_gmt":"2019-02-15T15:58:24","slug":"how-digital-banking-makes-you-more-vulnerable","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43839","title":{"rendered":"How Digital Banking Makes You More Vulnerable"},"content":{"rendered":"\n
\"A<\/figure>\n\n\n\n

A man takes part in a hacking contest during the Def Con hacker convention in Las Vegas, Nevada, U.S. on July 29, 2017. (Reuters\/Steve Marcus)<\/p>\n\n\n\n

How Digital Banking Makes You More Vulnerable<\/a><\/h3>\n\n\n\n

Banking \u2013 and bank robbery \u2013 have entered the digital age and all is not well.<\/p>\n\n\n\n

Safes and vaults used to be how banks protected your money. Now the money completely accessible through your digital identity. But how safe is your digital identity?<\/p>\n\n\n\n

Needless to say, banking has changed. Although managing financial assets, providing services and processing transactions remains retail financial institutions\u2019 primary functions, they\u2019re also charged with protecting the most prized and valuable assets of all: their customers\u2019 digital identities. That would include yours as well as mine. They\u2019re spending vast sums<\/a> on it as well. Unfortunately, achieving total security is more of a challenge than paying interest on a CD or interest-bearing checking account.<\/p>\n\n\n\n

Invasive Banking Laws Make You Vulnerable<\/strong><\/p>\n\n\n\n

One of the biggest changes in banking over the past decade or so is how much individual privacy has been eliminated. With various anti-money laundering laws and protocols put in place since the 9-11 Attacks, banks have been given new powers aimed at identifying sources of funds and recipients of financial transfers. Furthermore, strict limits on how you transfer or receive money \u2013 how much, how often, from whom or to and from where \u2013 have resulted in banks knowing more about their clients\u2019 lives than ever before.<\/p>\n\n\n\n

But that invasiveness has left clients\u2019 identity incredibly vulnerable. In the past, some banks were slower in adopting client data security tools and protocols necessary to protect personal and corporate client identity details due to conflicting interests. And even those that did so couldn\u2019t be certain that their efforts were successful. Even with the most sophisticated systems in place, that ambiguity remains today.<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

A man takes part in a hacking contest during the Def Con hacker convention in Las Vegas, Nevada, U.S. on July 29, 2017. (Reuters\/Steve Marcus) How Digital Banking Makes You More Vulnerable Banking \u2013 and bank robbery \u2013 have entered the digital age and all is not well. Safes and vaults used to be how […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[61,24418,8117,24417],"class_list":["post-43839","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-banking","tag-digital-banking","tag-epoch-times","tag-james-gorrie"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43839"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43839\/revisions"}],"predecessor-version":[{"id":43840,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43839\/revisions\/43840"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}