UK internet users are mostly unconcerned by online
banking security threats like phishing and keystroke logging and
expect banks to deal with the problem.
A survey by Forrester Research among online banking customers
found that about 600,000 have given up online banking over security
fears, but banks cannot rely on the complacent majority if they are
to prevent successful attacks.
According to Forrester, banks need to educate customers better
about the dangers of online fraud and even restrict functionality
on some accounts based on customer profiling to ward off security
threats.
Banks should also put in place more rigorous Internet banking
authentication procedures, said Forrester.
Benjamin Ensor of Forrester said, “Net users don’t know what to
think about online banking security. Without the technical
knowledge to judge the severity of security threats like keystroke
logging and phishing – or, frankly, much interest in acquiring that
knowledge – people struggle to reach a balanced judgement.”
Ensor said this lack of knowledge meant net users were in the
main “either complacent or paranoid” about online banking
security.”