"Consumers are very much aware of these threats," Seth Geftic, senior manager of Identity Protection and Verification at RSA told V3.co.uk. "They are not satisfied with simple password. Consumers really and need this security." He continued that while some European banks were going down the line of two factor authentication UK and US banks were instead relying on risk-based authentication.
Online Banking Customers Still Insecure
Bank Technology News | January, 2010
Consumers have become aware of the threats of online crime, yet are still falling prey to scams at increasing rates, according to RSA’s new global security survey.
- RSA, a unit of EMC, found that 70 percent of users feel their banks should implement stronger security
- 80 percent say their IDs should be protected though measures beyond username and password.
- In the UK, for example, only 35 percent of consumers feel “very secure” when using online banking.
The firm also says awareness of phishing attacks doubled between 2007 and 2009, yet the number of people who reported being victimized by phishers increased more than 600 percent during the same period.
RSA says that increase is due to advanced communications and sophisticated writing and Web design on the part of the crooks. Phishing itself has also evolved, branching into mobile device attacks such as vishing and smishing.
The survey of more than 4,500 internet users in 22 countries also found that while 65 percent of users who belong to social networking sites are less likely to interact or share information due to security concerns. In a statement, Christopher Young, an svp of RSA, said in order to maximize the full value of what the online world can offer, organizations need to take a layered approach to Internet security in order to best protect their customer’s information.
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