Security News Difference in Banks' online security systems, Report by Which?

[Ink]

Major banks have big differences in the safeguards used for their online banking systems, research from a consumer group suggests.

"Which? found several big providers do not use "two factor" security steps when customers log in, which could help protect them falling victim to scams.

Which? said just five out of the 11 providers it tested offered a two factor authentication at login - Barclays, First Direct, HSBC, Nationwide and M&S Bank.

It said Lloyds Banking Group, which includes Lloyds, Halifax and Bank of Scotland, was among those not using two factor security steps at login.

But banks said the research did not paint a true picture of their security controls."​

Continue... Which? discovers wide differences in banks' online security systems - BelfastTelegraph.co.uk

 

[Tony Cole]

I bank with HSBC, but will no longer use online banking, no matter what two factor authentication they have in place - customer service guy didn't like being told that, plus tried to convince me bank accounts do not get hacked!

 

[ForgottenSeer 55474]

thanks for sharing

 

[Solarquest]

I bank with HSBC, but will no longer use online banking, no matter what two factor authentication they have in place - customer service guy didn't like being told that, plus tried to convince me bank accounts do not get hacked!

Unfortunately there are few, very few people that have contact with customer that know about security....many times the answer when confrobted with security concerns is not to worry and to use an AV..
Unfortunately I had the same experience.

 

[Vasudev]

By default, 2FA for online transaction is disabled for trans <Rs. 20k. I enabled it(2FA) for every transaction just to be safe.