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Fraudsters target online banking customers

24 April 2006

Research has found that more than half of all banking customers with internet access have been targeted by financial fraudsters.

Around 52 per cent of internet banking customers have received 'phishing' emails which direct them to bogus bank websites in order to obtain account information, leaving them vulnerable to identity theft.

"Fraudsters have become increasingly sophisticated so it is understandable that 54 per cent of customers with bank accounts are more concerned about fraudsters accessing their bank details via the internet than they were two years ago," commented Andy Muddimer, head of internet banking at Alliance & Leicester, who commissioned the research.

Figures from payments association Apacs estimate that one in eight online shoppers have failed to log out when shopping online, leaving them open to identity theft, with one in four shoppers not checking if a website is secure.

The bank says that it has introduced a new internet banking security system to help to combat financial fraud, using a two-factor system which first identifies the computer being used by the customer, then confirms the genuine identity of the bank by showing the customer a previously-chosen phrase and picture.

If you've been affected by identity fraud or want to know more about how to protect yourself, sign up to a free trial of MyCallcredit's early fraud detection service.

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