Banks told to help stamp out fraud
(25 January 2006)

Banks need to lend more of a hand to their customers in tackling online fraud or they risk losing customers, a new survey has claimed.

The Financial Services Authority's (FSA) Financial Risk 2006 report, the full results of which are due out on Wednesday, says that 77 per cent of consumers will stop banking online if they are made to foot the bill for internet fraud.

With half of internet users professedly "extremely concerned" or "very concerned" about their safety when banking online, the FSA says that banks must help counter a prevailing ignorance about what protective steps may be taken.

Philip Robinson, the FSA's financial crime sector leader, said: "Most consumers recognise they have some responsibility for security but they are not necessarily following this obligation through.

"To tackle the losses associated with fraud, banks should continue to drive security and this must include educating consumers on the importance of protecting themselves."

Among the study's findings was that more than a quarter of consumers who have anti-fraud software either cannot remember the last time they updated it or admit to doing so irregularly.

If you need to shell out on some new software or protective material, a payday loan can ensure that you get kitted out as soon as possible even if ready money is currently tight. As an investment in your long-term financial security such a move would be hard to beat, and a sum of between £80 and £1,000 to help you out can be with you today.



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