Am I really the only person having a slight issue with this???
I mean.. I bank on the web. I do business payment processing on the web. So, really - should I be cynical about the Fed transferring upwards of 1.8 TRILLION dollars a day via the internet?? Call me silly, but I think the risk of my pathetic little bank account being hacked are far less worrisome than….oh…say….the FEDERAL RESERVE!
I could be wrong. I should just step up into the technology world and face the reality of it all.
I guess it was this quote that struck me:
“If a security breach strikes the very heart of the financial world and money stops moving around, then our financial system will literally start to collapse and chaos will ensue.”
Call me paranoid.
1:35 am on August 16th, 2004
Eh, personally I don’t think there’s anything to worry about.
1:53 am on August 16th, 2004
There’s a pretty decent discussion of this going on by tech-types here. The consensus is that while there are some pretty big concerns, banks, by their very nature, have and will never do anything particularly rash.
1:55 am on August 16th, 2004
Forgot to also mention that most of the articles I’ve seen on this are misleading. Basically the Fed wants to make the system that “initiates” the transfers done over the Internet but the actual transfers themselves over their currently-existing secure systems.
2:04 am on August 16th, 2004
That seems to be a bit better. I don’t know - I’m just too skeptical, really. I’m sure it’s a fine thing - - I just imagine the worst in regards to this. I’m imagining a Pakistani hax0r somewhere getting ahold of our nations ecomonmy lol
And normally I’m usually a glass half full type of girl… lol