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12:56 11th April 2011
Financial institutions in the UK are stepping up their efforts to tackle online fraud, according to Tony Neate, managing director of Get Safe Online.
He expressed his remarks in reaction to a report by the Treasury Select Committee which said banks were not giving enough efforts to protecting their clients against fraud to their online products. The Treasury said it was concerned about the lack of detail apparently available to the police when it comes to cybercrime.
Mr Neate went on to say bank users need to be more knowledgeable of the necessity for cyber security.
"I think banks are doing quite a lot to safeguard themselves and safeguard their customers. We're seeing more and more banks now producing two factor authentication, where there are two means of verifying yourself, which is a good thing," he said.
"A lot of these banks are not providing a lot of these cards where you have to put a one-off number in. It gives consumers confidence when they are banking online."
Posted by Derek Oldman
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