Security

Some customers avoid online banking as they perceive it as being too vulnerable to fraud. The security measures employed by most banks can never be completely safe but it becomes less secure if users are careless or gullible. An increasingly popular criminal practice to gain access to a user's finances is phishing, whereby the user is in some way persuaded to hand over their password to a fraudster.

Due to the closure of many bank branches in the UK, customers are relying on online banking. Banks such as Barclays, HSBC and Lloyds must take heavy precautions in order to ensure their online security system is secure and updated on regular basis. 

Some of the preventative measurements include:

• Educating users about the malicious attackers such as crackers can help keep them aware. Enough knowledge can teach users what to access and what not to access. 

Security is key especially with money on the line.

• First time users must be given additional information when approaching online banking. This warning may come in a leaflet stating what to look out for such knowing what danger there is online. However more effort should be put in by customers by reading the information given.  

• For online websites, various websites may not be secure so when a customer is transferring personal information, ensure websites url start with ‘https://’.  

Issue for the customers?

A major issue which is known internationally relating to digital banking can be identity theft. Within the United States, it is amid the fastest rising felony. However identity theft was usually familiar before the technology expansion but it has become easier for hackers as they commit fraud by stealing personal data, and information of people from information systems.

For customers, 

• To prevent identity theft online customers must be confident that before making any payments by card; either debit or credit.

• Customers must ensure that websites are safe-proof and should be very cautious when asked for personal information. 

• When payment has gone complete, customers must frequently check their card statement in case any mistaken activities have occurred