Internet Banking in NZ - Will be interesting to see some test cases….

July 4th, 2008 Drazen Drazic Posted in Risk Management, Vulnerability Management, Web Application Security, cyber crime, news |

The Kiwis have had this on the table for a while. Computerworld NZ and MIS Australia amongst others have covered it recently with changes being made to the rules governing online banking in New Zealand.

The Computerworld NZ story has a quote that doesn’t seem to make that much sense but in context of the history of this and what could have been, is now a bit more understandable; “The move is expected to boost customer confidence that losses from online fraud will be covered by the banks”.

While the motives are clear, regardless of spin put on the reasons, it does raise more questions than it answers and is something I suppose will be tested eventually in a legal scenario.

Mac and Linux users I suppose need to be worried. Will basic firewalls on those systems constitute “security software”? This will be an interesting one to follow. I am sure banks in other countries that don’t throw liability back as a general rule are also watching this.