German crypto specialist Karsten Nohl, the chief scientist with Berlin's SR Labs, has warned German banks that their retail payment systems have security flaws that could allow fraudsters to steal payment card PIN codes, create fake cards or siphon funds from customer or merchant accounts. Photo: Reuters
German crypto specialist Karsten Nohl, the chief scientist with Berlin's SR Labs, has warned German banks that their retail payment systems have security flaws that could allow fraudsters to steal payment card PIN codes, create fake cards or siphon funds from customer or merchant accounts. Photo: Reuters
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Business

Managers need to take cybersecurity seriously

Only 9 per cent run penetration tests to check their systems on a regular basis

Ravi Chhabra

Updated: 10:00am, 15 Jan, 2016

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German crypto specialist Karsten Nohl, the chief scientist with Berlin's SR Labs, has warned German banks that their retail payment systems have security flaws that could allow fraudsters to steal payment card PIN codes, create fake cards or siphon funds from customer or merchant accounts. Photo: Reuters
German crypto specialist Karsten Nohl, the chief scientist with Berlin's SR Labs, has warned German banks that their retail payment systems have security flaws that could allow fraudsters to steal payment card PIN codes, create fake cards or siphon funds from customer or merchant accounts. Photo: Reuters
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