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The May Report: 05/14/2001: Electronic banking security problems at Bank One? (fwd)
From: William Knowles <wk () c4i org>
Date: Mon, 14 May 2001 14:52:36 -0500 (CDT)
---------- Forwarded message ---------- Date: Mon, 14 May 2001 13:17:30 -0500 From: Claire Dolinar <claire () themayreport com> Reply-To: owner-mayreport () list themayreport com To: mayreport () list themayreport com Subject: The May Report: 05/14/2001: Electronic banking security problems at Bank One?; an insider's view of Eppraisals May 14, 2001 The May Report Your inside source on Chicago's high tech community The May Report: 05/14/2001: Electronic banking security problems at Bank One?; an insider's view of Eppraisals Ron May: editor, reporter, commentator, and publisher. 773-871-2000 x1 For personal & confidential: 312-670-6336 E-mails for Ron: ronaldmay () aol com or ron () themayreport com. Unless otherwise requested by the sender, all correspondence addressed to Ron May and/or The May Report is subject to publication in the newsletter and on the website. Administrative matters should be directed to Claire Dolinar (claire () themayreport com) ---------- Sponsorship by Forward.net, Inc.: Move Forward! Computer consultants recommend Forward.net for accessible, dependable and knowledgeable website, e-mail and database hosting, DSL, colocation, all digital dial-up, T-1's and more business data communications services. To find our why more than 1000 Chicago companies connect with http://www.Forward.net, contact 312.577.2250 #2, or e-mail sales () forward net. --------------- Don't forget to check out Plotkin's cartoon of the week on The May Report official web site. You may see somebody you know! http://www.themayreport.com/cartoon/ --------------- Listed at the end of this report are: (1) May Report staff and contributors, (2) contact information for staff, advertising inquiries, event postings, and subscribe/unsubscribe instructions. ____________________ Briefly noted, by Ron May * I got two calls on Friday night, one of which deals with a local Internet/software company and the problems they may be having. I proceeded to spend a great deal of time investigating the story over the weekend, and here I am, Monday at lunchtime, asking myself "What's the story here?" I have gathered a great deal of information, but it's not clear to me that there's anything out of the ordinary in terms of a story that has value. If for no other reason than I have already gathered a great deal of information, I will provide you with a brief outline of it, but not today. One general comment that I can make is that in the relationship between service vendors and Internet companies both sides have a responsibility to be proactive about where things stand in the relationship. The trouble starts when you let six or seven months go by before you get aggressive about collecting a bill or meeting with the client. The second call I got was about a problem that, if verified, could be a big story. The person who called me owns a small tax business, similar to H&R Block. He told me that one of his clients was using the new electronic banking system provided by Bank One, and apparently it still may have some bugs in it. From what I understand, someone was able to break into this client's bank account and submit an electronic check for payment which was large enough to wipe out the account but not so large as to cause an overdraft. When this person reported the problem to Bank One, she was told that she was the third person that day who had run into this difficulty. This happened about a week ago. Does anyone know any more about the subject, because I think that this could potentially be a big story. [...] ____________________ THE MAY REPORT STAFF AND CONTRIBUTORS / CONTACT INFORMATION Contributors: Todd Allen: irreverent humor; Jonathan Plotkin: web cartoonist and provocateur; Dan Limbach: Editor of Schmoozemonger.com, and founder of In A World, Inc., "The Idea Petri Dish"; Jeffrey Gilbert: contributing columnist on strategy. Jeffrey is a founder of BLINK, Inc. which, among other things, provides strategic consulting services to startups. Advertising: Paul May and Mike Rhoades Executive Assistant: Claire Dolinar Administrative Asst. Juli Scaro ++++++ Contact Information+++++ Claire Dolinar (executive assistant): 773-871-2000 x 2 773-871-4933 (Fax). ________ Advertising or business issues: Available space to get your message across to over 16,000 subscribers. Call Paul May @ 312-377-4211 or e-mail paul () themayreport com. Include your phone number please. +++++++++++ website +++++++++++ If you are a new reader or want to research Chicago High-Tech, entrepreneurs, high tech firms, dot coms, VC's, angels, and the movers and shakers, go now: http://www.themayreport.com. Our Archives have many of the past reports and there is no charge. +++++++ SUBSCRIBE / UNSUBSCRIBE REQUESTS To SUBSCRIBE: Send your request to claire () themayreport com and put "subscribe" in the subject line. To UNSUBSCRIBE: Send your request to claire () themayreport com and put "unsubscribe" in the subject line. 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- The May Report: 05/14/2001: Electronic banking security problems at Bank One? (fwd) William Knowles (May 15)