UK Money News
25th March 2008
Banks urged to monitor online transactions more closely
Banks have been urged to find ways of improving the security when shopping online that put the onus on the customer.
Abbey surveyed 1,000 customers to canvass their opinions on the most preferable way of improving the security of online transactions with credit and debit cards.
It was found that the most popular approach would be for banks to more effectively monitor their transactions - a measure favoured by 40 per cent of respondents.
This compared with 32 per cent who favoured their bank giving them a security device to protect online transactions and the 30.35 per cent who requested more security questions.
Neil Wilson, director of financial crime, at Abbey, said: "Not surprisingly the research suggests that people want security with the least hassle.
"Finding customer-friendly ways to protect people and their accounts is key. Ongoing monitoring is one of the most important factors in preventing card fraud."
The poll also discovered that fear over internet fraud is most common among the under-25s, with half of respondents saying that the issue of internet fraud impacted on how they shopped online.
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