30 September 2008
Current account customers have been warned that the turbulence in the financial sector could trigger an increase in internet banking fraud. According to experts at First Cyber Security, banking customers holding current accounts at the banks involved in recent takeovers are most at risk. They urge internet banking users to be vigilant and to take care when responding to emails that appear to be from their account provider. David Holman, Director of First Cyber Security, said fraudsters thrive on the kind of "confusion" that has been created as a result of recent events in the banking sector. "As these mergers and acquisitions continue in the banking sector, the consumer will expect to receive communications from their banks detailing name changes and giving them different websites to gain access to their internet bank accounts," he explained. This presents an opportunity for fraudsters to steal personal information by sending out phishing emails disguised as official bank communications. Figures released by the UK payments association Apacs in July showed that the number of people banking online has increased by 500% in the last seven years.
© 2008 Adfero Ltd
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