Phishing inhibits banks communication with customers
An online fraud survey has found that phishing scams are undermining customers confidence in electronic messages allegedly from financial institutions, which means that banks are losing the option of communicating with customers via email. And yet, security firm RSA reports in its annual Financial Institution Consumer Online Fraud Survey that as many as 35 per cent of Australian respondents have not heard of phishing. However, 82 per cent of respondents who were aware of phishing were suspicious of all emails purporting to be from banks and were less likely to respond to an email from their bank. The survey found that banks need to improve communication with customers regarding their improvements to online security, as fewer than 40 per cent of respondents were unsure as to whether or not their bank provided additional security measures, such as tokens.
More and more banks are now providing online banking customers with an electronic two-factor authentication token to reduce the impact of phishing and online banking fraud.............Details
Online share broking has become more popular with the booming share market, and last year E*Trade's customer accounts increased by 29 per cent.............Details
The ANZ is ramping up its wealth management business to take advantage of the booming share market and moved yesterday to take full control of online stockbroker E*Trade.............Details
The 4 major banks as well as some 'second tier' banks such as HSBC and Bendigo Bank are offering two-factor authentication for their internet banking services however this is sometimes restricted to heavy or business users.............Details
