Fears about online banking security breeches have caused 17 per cent of British online banking customers to stop banking online, a new survey revealed.
Voice automation firm Intervoice found that identity theft is a cause of major concern among users of online banking. Its research also revealed that one in five people refrain from using the telephone to do shopping.
A further 13 per cent do not use their credit cards or debit cards when shopping online, Finextra reports.
UK consumers expect banks to invest in better online banking security. Only ten per cent of respondents were prepared to fork out money themselves to buy personal technology to protect themselves.
Nearly 60 per cent of the 1,000 adults interviewed for the poll indicated a national ID card scheme as their first or second preferred method of protection from identity theft.
Almost half of British internet users have been targeted with some form of online scam, according to a recent study by AOL.
These people received emails that tried to trick them into revealing financial details like account numbers and passwords. This practice, known as phishing (Internet slang for fishing for information), has caused five per cent of Internet users to lose money.
Phishers are becoming increasingly sophisticated, said Will Smith, AOL security expert. “It is crucial that people protect themselves - as well as using spam filters and being wary of unsolicited emails, we would advise internet users to check their bank balance,” he said.
The Association of Payments and Clearing Schemes said that online fraud cost banks £12 million last year.
"Inadequate" online banking security causes concern
"Inadequate" online banking security causes concern
Wed, 25 May 2005
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