According to research from high-street bankAbbey, just one in three of its
customers want a two-factor authentication security device, and
even fewer think staff should ask them security questions to
validate their identity.
Abbey quizzed its customers on how they wanted security to be
provided. Despite concerns over internet fraud, the priority for
customers was that any security measure should be hassle-free.
Neil Wilson, Abbey's director of financial crime, said, "People
want security with the least hassle. Finding customer-friendly ways
to protect people and their accounts is key. Monitoring is one of
the most important factors in preventing card fraud."
Abbey said it monitors accounts for fraudulent activity. When it
identifies suspect transactions, the bank contacts the customer
concerned on their mobile to ask them to verify that they made the
transaction. In the event of an unverified transaction, the account
will be automatically blocked.
Abbey added that it had fitted
anti-skimming devices on its ATMs to prevent card cloning. A
spokesperson admitted that this was because Abbey's cashpoints
still read from a card's magnetic strip when its chip and pin
system was not working.
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