Added on 5/11/2007 17:35
You may have read about the man in Perth who stole $100,000 from bank customer's accounts.
Well it's no surprise to me!!! Customers are lucrative sources of income to preying conmen and money laundering schemes. Banks in Australia have long ignored introducing multiple security layers to protect customers. Every day we hear stories about phishing, malware, Trojans and internet scams. Online Banking security is a hot topic that we can all do something about.
As you would expect, banking transactions are a top target for online scammers and passwords are the Achilles heel. So again it's no surprise from a recent poll that 76 per cent of bank customers were concerned about personal details being stolen during online banking transactions.
One in 10 households - victims of online fraud
The TNS/RaboPlus survey shows that approximately one in 10 households has been a victim of some form of online banking fraud (if this has happened to you let me know) and that 78 per cent of respondents want banks to upgrade their security beyond username and password.
So there it is - the customers want change and expect some action from our financial institutions to protect them when they are conducting their usual online banking requirements or making investments online.
Not an unreasonable request when 59 per cent of customers have only user name, password and customer number with possibly one additional security question required to conduct transactions online. Well, that is not hard to break for those in the know.
Let's face it, it is hard to remember passwords. You will have one for your computer at work, which changes regularly, one for each bank, one for your card, one for your hotmail, something else and so it goes on.
How does anyone remember all these things? Store them on your mobile phones? Sounds even riskier.
I have set up a list of do's and don'ts for online banking, read it and add to it if you've got a good do or don't!!!
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