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Michael Browne

Banks' online security is failing customers

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The consumer group Which? has criticised some of Britain’s biggest banks for failing to invest in security systems that would better protect their customers from fraudsters.

 

Against a backdrop of booming bank fraud, Which? tested the UK’s 11 biggest banks and building societies and found that the security at five of them was still not good enough.

 

Which? has called on the industry to make greater use of two-factor authentication at the login stage of online banking. This combines two identity checks – typically a password or pin plus a single-use pass code sent via a card reader or mobile phone.

 

In its most recent test, carried out in August, Which? found that only five of the 11 banks had adopted such security checks to protect customers.

https://www.theguardian.com/money/2016/oct/20/banks-online-security-is-failing-customers-says-which

 

On-line Banking Security Rated

 

http://www.which.co.uk/money/bank-accounts/guides/online-banking-security/online-banking-security-rated/

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