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Online ID Theft Worsens, Scares US Bank Customers

Posted by Administrator (admin) on Jun 28 2007 at 10:19 AM
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The public perception is that despite efforts from US Banks and other financial institutions, fraudsters a still one step ahead of current security measures. A recent October survey shows that 18 percent of people who have banked online now do less online banking due to security concerns. In addition 94% of online bankers are willing accect additional security measures related to logging into banking and other financial web sites in order to combat phishing and other forms of electronic fraud. This survey arrives just as the Federal Financial Institutions Examination Council mandated member banks to comply with tougher online access security policies by late 2006. The article cites phishing as the main threat to online banking security, but also mentions that pharming is on the rise as well. http://www.eweek.com/article2/0,1895,1883812,00.asp

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