25 September 2016
Find out more

ABA applies for .bank domain to frustrate phishers

26 June 2012  |  7434 views  |  1 URL

The American Bankers Association (ABA) and the Financial Services Roundtable have teamed up to apply to operate .bank and .insurance generic Top Level Domains (gTLDs) on behalf of the industry.

Last year the Icann board gave the go-ahead for a raft of new generic top-level domains, giving applicants until June to register their interest.

However, the issue has caused concern in the financial services industry, with the European Banking Authority calling on Icann in February to ditch plans to allow '.bank' and '.fin' domains, warning that they could be used by phishers to trick customers.

Taking a different route, the ABA and Roundtable - backed by counterparts including the Australian Bankers' Association, British Bankers' Association and European Banking Federation - have moved to snap up the .bank and .insurance strings in order to safeguard consumers against imposters.

The pair say that the domains will adhere to the 31 security standards they submitted to Icann late last year, with the request that any new financially-orientated gTLD be required to provide heightened security.

According to the Icann site, there has been one other application for .bank and three more for .insurance. Several financial institutions have also applied for their own domains, including .BofA, .Citi, .HSBC, .Visa and .Amex.

Doug Johnson, VP, risk management, ABA, says: "Consumers need to feel confident that when they go to a .bank or .insurance site, that a trusted third-party has vetted these domains names. New financial domains will be a detriment - rather than asset - if they cannot be trusted. That's why our groups are leading this effort."

Comments: (1)

Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 26 June, 2012, 12:05

One doesn't need to wait for those TLDs to be approved to start using them (for phishing attacks) - www.GetCompensationFromNatWest.bank

It won't take a skilled hacker long to display the above address in the browser window too, when you reach that page.

1 thumb up! 1 thumb up! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Bloomberg and Reuters add domain name index to sites

Bloomberg and Reuters add domain name index to sites

22 May 2012  |  5079 views  |  0 comments
European Banking Authority hits out at .bank domain plans

European Banking Authority hits out at .bank domain plans

28 February 2012  |  8150 views  |  1 comments
Creditcard.net domain sells for $138.000

Creditcard.net domain sells for $138.000

26 September 2011  |  4388 views  |  0 comments
The WikiLeaks strategy: Bank of America buys up abusive domain names

The WikiLeaks strategy: Bank of America buys up abusive domain names

22 December 2010  |  125175 views  |  0 comments
BofA wins cybersquatting judgement

BofA wins cybersquatting judgement

18 February 2010  |  6297 views  |  0 comments
Insure.com name and site sold for $16m

Insure.com name and site sold for $16m

12 October 2009  |  5828 views  |  1 comments
Goldman in legal battle with hell-raising blogger

Goldman in legal battle with hell-raising blogger

15 April 2009  |  5043 views  |  0 comments
Afterthebailout.com domain owner seeks $1m in eBay auction

Afterthebailout.com domain owner seeks $1m in eBay auction

20 October 2008  |  5186 views  |  0 comments
Cyber-squatters jump on Wall Street woes

Cyber-squatters jump on Wall Street woes

17 September 2008  |  6831 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit i2cinc.comVisit www.abe-eba.euFind out more

Top topics

Most viewed Most shared
Co-habitation with banks key to fintech futureCo-habitation with banks key to fintech fu...
13474 views comments | 34 tweets | 34 linkedin
hands typing furiouslyGoogle's Larry Page buys a 'major global b...
12862 views 0 | 31 tweets | 25 linkedin
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
10988 views comments | 43 tweets | 28 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8326 views comments | 16 tweets | 25 linkedin
Deutsche Bank teams up with accelerator to back fintech startupsDeutsche Bank teams up with accelerator to...
7037 views comments | 12 tweets | 5 linkedin

Featured job

Find your next job