July 24, 2008 -- (WEB HOST INDUSTRY REVIEW) -- The University of Michigan (umich.edu) announced on Thursday it has released a new study that shows that online banking sites are open to hackers, putting the critical information of customers at risk.
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The study examined 214 websites of financial institutions in 2006. It discovered that 75 percent of these websites contained some kind of design flaw that put customers at risk of having their information hacked into.
Since the websites had design flaws, they could not be fixed with a simple patch.
Some examples include placing a secure log-in box on an insecure page, or offering contact information on insecure pages.
The study also found that 39 percent of the bank sites had customers being redirected outside of the site's domain without any notification, while over 30 percent offered to email passwords to customers.
