The Federal Deposit Insurance Corporation is now warning banks to beware of spyware. Of course, Reuters just had to reach by comparing spyware data theft to the CardSystems data theft, which just keeps getting bigger.
Lets first set the record straight by saying that a data intermediary storing information in reckless disregard of its customers retention policies, and then having that data swiped, has absolutely nothing to do with spyware.
Yes – spyware can be a menace to banking transactions, and the warning is justified. But banks can do little to stem the tide when it is consumers that are downloading spyware-laden software. Having banks provide specific warnings directly to consumers (and maybe even give away some solid anti-spyware software to their online banking customers), would be a good logical next step.