Online banking still falling foul of the hackers
While there is no doubt that developments in technology have assisted the security of the U.K.'s online banking sector, a report that £52.5 million was stolen by hackers last year, using online information, is a concern. Despite numerous warnings regarding password protection, virus detection and the threat from key-logging software, it appears that many people are still leaving themselves wide open to potential fraud.
A report by Which? magazine suggest that while there is a degree of risk to every online bank account, those with accounts with Halifax and Abbey appeared to be more at risk than the likes of Barclays, which came top of the league in the UK's online banking sector. While there are no direct security threats to Halifax and Abbey there appear to be issues with the way in which passwords are entered into the system and the amount of security information requested.
Even though this is a big blow for the UK online banking sector, as we said above, there have been significant developments in technology over the last few years which offer greater protection. While ultimately no one system is ever 100% secure there is a suggestion that some banks could be doing more with regards to their password entry systems in order to try and make life as difficult as possible for the hackers.
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