Alliance & Leicester Internet Banking launches new online security system

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Alliance & Leicester Internet Banking launches new online security system

A new security system has been introduced by Alliance & Leicester Internet Banking today, which is intended to protect online bankers against scams which pose as legitimate financial websites.

Some 52 per cent of online banking customers have received 'phishing' emails, according to the company, which refer them to bogus sites in an attempt to gain their banking details.

The new system being introduced by Alliance & Leicester Internet Banking is intended to verify the lawfulness of the site a customer is visiting using a 'two-factor authentication' system.

It will firstly identify the computer being used by the customer and then prove that they are dealing with Alliance & Leicester by showing them a phrase and picture which the customer has chosen from thousands of options.

The company has launched the initiative in response to the fact that the number of transactions made online almost doubled in 2005.

Andy Muddimer, head of Alliance & Leicester Internet Banking, said: "Whilst online fraud is a very small percentage of fraud overall, the new internet banking security measures offered by Alliance & Leicester will ease people's security concerns surrounding banking online."

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