Apacs online banking security warning

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Apacs online banking security warning

Fri 22nd Sep 2006

Research from Apacs, the UK payments association working on behalf of the banking industry, suggests people are failing when it comes to online banking security.

Despite advice being available, the study shows internet users are "still overly complacent". Over a third of those questioned record their online banking security information, including password, by writing it down somewhere in a computer document.

Director of corporate communications Sandra Quinn said: "A large increase in phishing email attacks at the start of the year leads us to expect an increase in online banking fraud losses in the first half of 2006."

Phishing is the practice of fraudulently acquire sensitive information, such as passwords and credit card details, by masquerading as a trustworthy person or business by e-mail. The amount of these attacks has increased by 800 per cent since August 2005.

The internet is "very safe provided you remember two simple rules: use a secure PC and be wary of unsolicited emails", added Ms Quinn.

Some 16 million people in the UK now use online banking, the majority of which are between the ages of 25 and 34.

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