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The Empire District Electric Company Message Board

  • joplininvester joplininvester May 19, 2001 2:47 PM Flag

    Important News For Joplin Investors

    This was posted on the MSN Message Board:

    Serious Breach of Security



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    Started by: Guido01 Sent: 4/18/2001 9:35 AM 0 Replies
    This is a bank software company that is doing an excellent job of capturing market especially in the on-line banking space. However, I have spoken to some customers and they said that the system has had some serious problems and this week there was a security breach that allowed hackers to wire transfer funds illegally from one of their banks. The Jack Henry response was to shut down the system for more than 5 days leaving many thousands of customers with no option for paying bills, transferring money, etc. Apparently this is not the first time the system has had problems of a similar magnitude. Not only are the end customers irate, but the banks are starting to look for financial compensation and alternatives. This could have a very ugly impact on an otherwise positive company. After all, all the bells & whistles and goodwill built up over many years can be decimated by issues of data integrity and security holes.

 
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