18 October 2017
Find out more

UK online bankers think security threat is rising - survey

26 November 2008  |  5426 views  |  0 keyboard 3

Over 60% of Brits who bank online believe they face a greater security threat now than when they first signed up to the service, according to a poll for vendor Xiring.

The survey of 500 regular Web banking customers conducted by Vanson Bournem found nearly a third (31%) have either been a victim of online fraud themselves or have a family member who has.

Despite this, only 10% of respondents say their online banking habits have been affected.

When asked what would make them feel more confident on Web banking security, 21% of respondents said an extra security question would be the best option.

Xiring - which makes authentication devices for e-banking - claims this shows Brits need to be "educated" about online security because "static" passwords don't protect against phishing and spyware scams.

Nearly a third of respondents would feel most confident using a smart card reader to add an extra layer of security to their online banking. In contrast, just five per cent want to use their mobile phone for authentication.

Laurent Maitre, marketing director, Xiring, says: "It is heartening to know that UK e-banking users are aware of the security risks involved with banking online. However, it is worrying that a good proportion of users think that by answering an extra personal question, it will improve their security and protect them against phishing attacks."

Women are more trusting than men, with 59% believing that their bank would protect them from online banking fraud at the time of signing up, compared to just 48% of men. The 46-55 age bracket is most trusting with 62% believing their bank would protect them, compared to only 46% of 18-25 year olds.

The poll also shows that a massive 84% think their bank should have ultimate responsibility for online banking security.

In addition, Web banking is more trusted than e-commerce, with 74% of respondents believing shopping online is less secure than banking on the Internet.

Last week a PayPal poll found 49% of Internet users in the UK feel their bank's online service is very secure, making them considerably more confident than Spanish (28%), French (34%) and Germans (14%) respondents.

Comments: (0)

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

Continental Europeans less trusting of online banking security - survey

Continental Europeans less trusting of online banking security - survey

21 November 2008  |  5987 views  |  0 comments
UK online banking fraud soars

UK online banking fraud soars

01 October 2008  |  11223 views  |  0 comments
Poste Italiane to issue Xiring card readers to online customers

Poste Italiane to issue Xiring card readers to online customers

09 September 2008  |  6552 views  |  0 comments
Canadians top for online banking

Canadians top for online banking

11 July 2008  |  8595 views  |  0 comments
Nationwide to dish out Xiring smart card readers

Nationwide to dish out Xiring smart card readers

29 January 2008  |  13688 views  |  0 comments
E-banking growth slows in UK - report

E-banking growth slows in UK - report

07 November 2007  |  16614 views  |  0 comments
One slip up and Brits would ditch Web banking - study

One slip up and Brits would ditch Web banking - study

18 September 2007  |  7450 views  |  0 comments
Royal Bank of Scotland to issue Xiring smart card readers

Royal Bank of Scotland to issue Xiring smart card readers

02 May 2007  |  12557 views  |  0 comments
Security fears scare off US customers from online banking, shopping

Security fears scare off US customers from online banking, shopping

27 November 2006  |  11840 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15146 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8360 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7864 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7294 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6442 views comments | 8 tweets | 16 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job