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Poorly written code leaves banks at high risk

After researchers recently reviewed over 270 million lines of code in applications worldwide they discovered 1.3 million weaknesses which could allow hackers easy access to corporate systems.

Software company CAST found that software within the financial sector has the most coding mistakes and non-secure coding practice whilst the report also announced that applications installed in 2012 are more than due for a health check.

At the opposite end of the scale the manufacturing, energy and pharmaceuticals all had the least vulnerable coding. You can read more about this here Sloppy old code leaves banks at risk to hackers.

 
This isn't the first time coding has been in the news in the last 7 days, last week £115 million of crypto-currency Ethereum was permanently frozen through a bug in the coding.
 
Someone hunting for bugs accidentally became the joint owner of hundreds of wallets containing the currency when they were hunting for ways to exploit code. After the unidentified person tried to reverse this they stopped the original owners gaining access and locking them out of their own accounts.
 
Ethereum is a crypto-currency similar to Bitcoin that uses a large network of computers to verify transactions and generate new coins. The security alert posted by Parity technologies can be read here.

 

Topics: Security

Written by Jack Whisker

Experienced Supervisor with a demonstrated history of working in the marketing industry. Skilled in Microsoft Word, Social Media, Marketing, Management, and Time Management. Strong professional, future graduate from Liverpool Hope University.

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