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Online banking open to fraud crimes?

Published on 27 Aug 2009 under category: legal

The online banking systems of some major highstreet lenders could leave consumers open to fraud crimes, a group has suggested.

Which? Computing stated that Halifax and Abbey have the weakest security measures for users of these services.

The group claimed that there are security loopholes which could be exploited by those carrying out fraud crimes.

Users of Barclays' or Lloyds TSB's online banking may be relieved to hear that these were praised for their measures to safeguard consumers, thanks to their use of drop-down menus which prevent the use of keylogger software.

Several banks have criticised the report, saying that they use unseen security to protect their customers from fraud crimes.

Earlier this week, Andrew Wetherall, a former KMPG director, was in court regarding fraud crimes while employed by the accountancy firm.

The charges relate to Mr Wetherall making false claims over a five-year period, with this money allegedly being spent on holidays, jewellery and cars.

If you require advice on Corporate Fraud please call us on +44 (0)20 7831 0101 and ask for Dan Hyde.