In the Workplace

Banks Grow Wary Of Zoom Meetings

Cite Concerns About Security

Keith Griffin

April 24, 2020

Zoom meeting setup | Photo by Allie Smith on Unsplash

While some bank employees may be weary of videoconferencing, banks themselves are growing wary of the videoconferencing site Zoom. Concerns are increasing about the possibility of sensitive information being hacked.

Several banks have experienced Zoom bombings in which hackers have broken into a meeting and shown porn or flashed themselves. “That has happened quite a few times, and we're collecting lots of stories on that,” said Steve Hunt, senior analyst at Aite Group. There is no profit motive — they do it “to get their jollies,” he told National Mortgage News.

Kyum Kim, co-founder of Blind, an online community of 3.5 million technology and financial services professionals, told National Mortgage News “Security vulnerabilities in conference calls raise concerns because often, if not always, confidential and private information about the company, employees and candidates are shared through these meetings.”

A poll conducted by his organization found 28% of financial employees said they were worried their information may have been compromised through a videoconferencing tool. About 12% said they have stopped using the popular Zoom tool, and 10% said they have decreased use of it over hacking concerns.

Read more about confidence lacking in Zoom.

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