#272966 by TerranceBoyce
Thu Oct 29, 2015 9:26 am
http://www.techradar.com/news/software/security-software/many-banks-are-failing-with-online-payment-security-and-only-mitigating-risks-1307650?
28 October 2015
Banking industry has head in the sand when it comes to online fraud
It's cheaper to let fraud happen and remedy it, rather than try for prevention
A new piece of research has revealed some disturbing statistics when it comes to the security of online payments.
The IT Security Risks Survey 2015 report, conducted by Kaspersky Lab and B2B International (and encompassing 5,500 company representatives from across 26 countries), found that a third of banks and payment services failed to offer a secure channel for their online payments.
That's a worryingly high percentage, and even more remarkable due to the fact that 50% of financial services organisations said they believed online financial fraud was on the increase.
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