A new study has revealed that web sites of banks and financial institutions are not safe. They can be easily hacked by the hackers and important data can be stolen by them. This is a warning for security of computers and networks of industries and corporate sector. Online banking and other online practices are vulnerable to data theft and other security issues. The study was released this week from the University of Michigan.

More than 75 percent of the Web sites of more than 200 financial institutions were found to have at least one design flaw, according to a study released by the University of Michigan. Atul Prakash, a professor in the university's Department of Electrical Engineering and Computer Science, and two doctoral students examined the Web sites of 214 financial institutions. They have found that data on some websites is on risk and virus attack is possible on them.

The flow and lay out of most of the sites is not as good as it should be. There are many insecure login boxes and links. An attacker can easily change the address and phone number that is very useful for any firm. Almost 30 percent websites allows customers to go out of the domain of bank. The report finds 536 computer intrusion incidents with an average loss of $30,000 in the second quarter of 2007.