Recently Intesa Sanpaolo (born after a merge between Banca Intesa e Istituto San Paolo) moved its Internet banking authentication system from a password-based to a one-time-password-based access.
They sell that “innovation” – ever happens in the ICT business – as a major increase in IT security and then as a benefit for the customer, but if you think for a while this is not entirely true. Or – better – this might be true from the perspective of a marketing manager. But it is not from the customer standpoint.
Tomorrow I give a speech at Infosecurity, the most important ICT security exhibit in Italy.
The conference is (unfortunately) in Italian only, but who’s familiar with the language might like to have a look at the programme.
Current Italian media hype is pumped by the “Telecom Italia scandal”. The criminal investigation is handled by the Public Prosecutor of Milan that invetigates the alleged theft of confidential information and hack of major Italian and foreign companies. Recently, the Public Prosecutor findings led to preemptive jail custody Telecom Italia high-level security officers, employees and out firm security experts hired as consultants. The defendants are charged of running “covert black-ops” on their own, unbeknownst to their employer.
Apart from the merit of the investigation (that belongs to the Court and will likely be ruled not before several years), this criminal investigation itruly demonstrates how the ICT security business in Italy actually works. Companies (big ones, first) don’t really care about IT security. Top management leaves all the relevant decisions to the “IT guys”, while not caring about their own compliance to the security policies.