Despite banks’ best efforts to improve online security, their defenses are only as strong as their customers’ security habits. Unfortunately, even though consumers recognize their role in keeping their sensitive information safe, they often don’t take the necessary precautions, often having a Jekyll and Hyde attitude toward online security, and still hold their financial institutions responsible for a security breach.

Because of this familiarity, they’ll put all kinds of personal information on social networking sites and they feel they should be able to use technology to extend themselves freely, and have high expectations that those servers are secure. Most younger consumers wouldn’t hesitate to change banking relationships if those expectations aren’t met.

photo credit: Anonymous Account

One way banks are trying to meet that challenge is by deploying biometrics. Suggesting that a fingerprint reader would improve the security of online transactions, and many consumers would be interested in such a solution — if their financial institutions provided the device. The big push for banks right now is a biometric card — which is like a universal ID card.

Being proactive in your online security is the best bet. Make sure you are using passwords that are not identical to other passwords you have, that they are being changed on a regular basis, and that you never share them with anyone.

Banking and security… – I’ve always been a little laissez faire when it comes to banking and security, kind of having (blind and unwarranted) faith in those venerable banking institutions. I’m not sure why this is, bank lending is unsecured and banks are just … ING lead in online banking security – The Dutch bank has claimed bragging rights for the first end-to-end online account opening facility in Australia, with a service that was launched on Saturday.” link: ING lead in online banking security. Online Banking – Security Is Up To You – They contend that Canadian banks mislead their customers about the safety of online banking in their marketing materials and give users a false sense of security about their refund guarantee if hackers raid their accounts. … Banking Security or just Madness? – Just wondered if anyone else has encountered issues with bank security? I have a huge file (encrypted) with all the information I need to access each of my bank accounts, ISAs, credit cards etc. Despite this, I’ve recently run into …

Written by: OSAblogger / Bill Wardell - Please Read Our Latest OSA eZine Edition

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OSA Technorati Tags: biometric card, ID card, security breach

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