According to the new UK banking code, customers who keep a high level of security on their PCS will not be held responsible for any instances of online theft. The British Bankers Association (BBA) claimed that those customers who take the security measures of using up-to-date virus protection, as well as anti-spyware software and a firewall cannot take responsibility for online theft.
The update to the banking code, which is a voluntary code that most UK banks uphold, has taken place due to soaring levels of online fraud and the question over what is covered by the banks .
Pressure from consumer groups over online banking practices, including consumer rights group Which? clamoured that the rules should be changed. Which? also made very valid noises about bank email communication with consumers, giving rise to phishing emails. The banking code may be downloaded from the BBA website.
Better protection for banking customers
Better protection for banking customers
Fri, 04 Apr 2008
Recommended links
Internet banking guideBusiness banking guide
Switching to online banking
Sponsor e-banking
Bank of England criticised for failing to offer support
Profits up at Royal Bank of Scotland
| Banking news |
|---|
| UBS to Make Banking Job Cuts - Wed, 07 May 2008 |
| Online Banking Increasingly Popular - Fri, 02 May 2008 |
| Britains Banks Lose Overdraft Charge Test Case - Mon, 28 Apr 2008 |
| More News |
