Financial Services > e-banking > Banking news
Online banking award for financial services provider

Thu, 05 Apr 2007

Online banking customers who have previously been a victim of fraud may be interested to know that Barclays' virtual banking setup has just been named Anti-Fraud Strategy of the Year.

The award has been bestowed at the Financial Sector Technology Awards in recognition of Barclays' efforts to fight back against the online banking fraudsters.

In particular, the banking institution was praised for its use of text messages to confirm banking details when third party payments are set up over the internet.

Moreover, its provision of free anti-virus programmes and use of advanced transaction profiling techniques have also been commended by the judges.

Barnaby Davis, director of electronic banking at the financial services provider, welcomed the recognition of its online banking strategy.

"Barclays works 24/7 to combat online fraud and ensure our customers and their money are safe," he said.

"This award is a reflection of how much we have done in the last year."

One form of online banking fraud is phishing, whereby criminals send emails pretending to be recognised banking corporations and urge recipients to send private account details over the internet.

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