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Online banking too risky? Some say yes
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Old 9th November 2005, 16:24   #1
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Online banking too risky? Some say yes

Even as banks and regulators step up efforts to thwart identity theft over the Internet, the worry that fraudsters remain one step ahead is convincing many Americans that banking online is too risky.

At an identity theft forum in New York on Tuesday, security and policy experts said banks are taking appropriate steps to stop online criminals but that their best efforts--and consumers' own vigilance--may not be enough.

"Consumers can do everything right--not give out passwords or financial information--and still become victims," Susanna Montezemolo, a policy analyst at Consumers Union, said in an interview.

An October survey commissioned by Internet security company Entrust and released at the forum found that 18 percent of Americans who have banked online now do so less, or not at all, because of security concerns. Ninety-four percent say they're willing to accept extra online security protections.

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