Six Month drop in Online banking fraud, down 67 percent
By Online Security Authority on Jul 8, 2008 in Banking Security
Online banking fraud has fallen by 67 percent during the first six months of 2007 compared to the same period last year, according to UK payments. But while online banking fraud losses were down, online shopping, phone and mail order fraud was up by 44 per cent to £137m.
The security of online banking has become of great concern today. Banks need to protect their online banking systems and their online banking customers from transaction fraud, Phishing attacks, and identity theft.
Online banking solutions that rely solely on simple user passwords put customers and financial institutions at substantial risk. In the unlikely event that a fraudulent online banking transaction occurs while on your banks site, their Online Banking Guarantee means that you won’t be liable. More recently, online banking has become huge, and consumers are now able to enjoy the total flexibility and ease of being able to conduct their banking at their leisure.
Whatever you use the Internet for it’s vital that you take a few basic precautionary steps to ensure that your computer is protected against the latest threats. It is essential that you protect your computer by using up-to-date anti-virus software, doing regular scans of your computer to check for viruses, installing a personal firewall as well as the latest security updates for your web browser and operating system.
There are three essential steps to protect your computer:
Use anti-virus software and keep it up-to-date on a regular basis.
Install and learn how to use a personal firewall.
Download the latest security updates (or patches) for your web browser and operating system.
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