Last Updated 07 May 2020

The Australia and New Zealand Banking Group Limited

Category Australia, Banking
Words 568 (2 pages)

The Australia and New Zealand Banking Group Limited commonly called ANZ is the fourth largest bank in Australia after the Commonwealth Bank, the National Australia Bank, and Westpac Banking Corporation. [birgitdaube. de] ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2004 and where it operates two brands, ANZ and the National Bank of New Zealand. ANZ warned its customers to be careful of a fraudulent portal of a website that is generated by a virus which resides on a user's computer that generates a form which requests the account holder for personal details.

The problem being faced is as follows: Trojan horses enter as attachments in the inbox of a user but once they are opened, they secretly install programs which cause great danger. The Trojan horse virus plants malicious codes on computers and a keyboard scanner is made use of to record the sequence of the numbers and letters that are typed in. A Trojan is a program that appears to be legitimate but is designed to have destructive effects on the data residing in the computer onto which it is loaded.

It is a nonreplicating computer program planted illegally in another program to do damage locally when the software is activated. [ ownee. com] When a Trojan detects a particular sequence of numbers and letters like the address of a banking website it creates a fake web page in which users enter data and when they send the mail. , the data directly goes reaches the criminals. [theage. com] ANZ warned its customers about the hacking of the online banking portal by a virus that saves personal details and sends them to the hackers.

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Customers who accessed the banking portal lost important data. The Trojan horse stores personal data by planting malicious codes and scanning sequences of letters and numbers with a keyboard scanner. The data reaches the place where the hackers are operating from and they gain easy access to such private and confidential data. The Trojan horse also known as Trojan is a virus that appears to perform a desirable function but in fact performs secretive malicious functions which enable unauthorized access to the user's machine. [answers. com]

This issue is not related specifically to ANZ Bank. It is related to all banks in general and this problem of hacking by Trojan horses can occur in various other banks as well. Customers will face severe losses if personal and sensitive information falls in the hands of hackers and this may eventually affect thousands of customers and the entire bank may shutdown due to disappointment of customers and loss of trust in the bank. If customers are disappointed they will close their accounts in the bank and on seeing this other customers will also lose trust and do the same.

The banks reputation will face a severe blow. It will run of business and be forced to shutdown. The virus requests users to fill in their personal details by generating a fake page and transfers the data to the place where the hackers are operating. A fake page is created which requests the account holders to fill in their personal details; the data is stored and automatically sent to the hackers. This has been described as a very advanced way of stealing information. Trojan horses are planted illegally to cause damage and have destructive effects on their activation.

The Australia and New Zealand Banking Group Limited essay

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