How High is Bank Security?

Upon opening a student bank account at M&T Bank, the banker opening the account for me had me type in a username and password for online banking. That’s when I noticed the dreaded Internet Explorer 6. Surely, there cannot be any legacy websites that require such a security threat. Of all places, a bank was using a browser that has been outdated for nearly six years. Can that be a reflection on the rest of their security practices?

Is having that old browser really that bad? Yes it is. So bad, in fact, that Microsoft has a website called http://www.ie6countdown.com/ that actually tracks the usage of IE6 throughout the world, and encourages people to stop using it immediately by upgrading to at least IE7 if not the latest Internet Explorer. Global IE6 usage is still at 9%, the majority of that being in China, however in the United States the usage has dropped to 1.4%. Therefore, M&T Bank is part of an extremely small 1.4% of computers still using IE6.

I’m seriously considering sending a brief message to M&T to see their reasons for using such an outdated browser. It could have been a simple machine that slipped through the cracks, or it could be a sign of incompetent technical staff that has a lot more to worry about.

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2 thoughts on “How High is Bank Security?

  1. This is a really good point to bring up seeing that banks really try to physically secure things like personal files and the money in the vault with very secure filing cabinets and with concert and steel walls and 3 tons vault doors, but how much security goes into protecting their computer systems. Our world is turning into a digital age where instead of trading real paper money all we do is transfer virtual money basically from one account to another. In a society where, I believe eventually will be cashless, having outdated software and weak security is an oversight on someone’s behalf, and not only are they putting the bank at risk but also all of their customers whose information they have store in their system.

  2. Also, this is a good point that you bring up, because being that M&T is a bank, you would think that there computer system would be more secure and less outdated. It doesn’t really make sense that they would be using an old computer software that could be putting themselves and their customers at risk.

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