Lloyds TSB Access Code Device trialled

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Lloyds TSB Access Code Device trialled

Fri 14th Oct 2005

Lloyds TSB has announced today that it is to tackle internet fraud with the trial of a new system of logging on to online banking.

The Lloyds TSB Access Code Device will provide customers with a six-digit PIN number to enter when using its online banking service.

The bank predicts that by using the system the amount of internet fraud associated with online banking will decrease.

Instead of entering their Memorable Information data, customers will now be required to input their code to access their accounts.

Internet banking director at Lloyds TSB, Matthew Timms, comments: "Fraudsters are becoming increasingly cunning with their tactics, and there's no hiding the fact that fraud is on the increase.

"The trial of the Access Code Device is one of a number of security initiatives we are introducing to address the concerns of customers and stay ahead in the battle against online fraudsters."

Lloyds TSB's Access Code Device trial is part of the BankSecure programme to tackle fiscal fraud.

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