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25 October 2005
Online bankers could soon be given more security against fraud by a new device unveiled by Lloyds TSB
Around 30,000 customers will take part in a trial which will see them handed a thumb sized gadget. Whenever they log onto their accounts, they will be asked to key in the one-off code that will be appearing on the equipment at the time.
Personal security details will also have to be entered as usual - raising question marks as to the scheme's convenience - but banking chiefs want to combat the number of potential customers deterred by worries about security, thus making their services as watertight as possible.
A keyring will be inserted into the gadget's design to make sure it is not mislaid. The bank's internet banking director, Matthew Timms, explained that the trial formed part of a concerted investigation into methods of combating fraud.
"The trial of is one of a number of security initiatives we are introducing to address the concerns of customers and stay ahead in the battle against online fraudsters. The Access Code Device will generate a new code every time it's used, preventing customers from disclosing all their log on details," he said.
Lloyds TSB is also offering customers a free PC scan for spyware and intrusive programs, and is offering a 20 per cent discount on the ZoneAlarm Security Suite package.
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