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#218732 by TerranceBoyce Fri Sep 12, 2014 10:08 am

12 September 2014

Banks appear to have lost ground to the criminals after figures showed a 71pc rise in online banking fraud, to £29.3m for the first half of the year.

The sharp increase will come as blow for banks who are trying to encourage customers to bank online instead of going to a branch.

The last sentence is enlightening as banks promote new payment systems to counter competition with new alternatives. Their success will depend on how secure they are which isn't looking good as their basic service is proving to be so easily accessed by criminals.

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