Concern Over Online Banking Fraud Grows

Tuesday 5 October 2004 00:08 CET | News

According to a recent survey of 300 American banking consumers, almost three-quarters (71%) are concerned about online banking fraud.

The study, conducted online by professional research firm InsightExpress, reveals two out of five respondents are more concerned about online banking fraud this year versus last year. Among consumers who are not yet banking online, concerns over security, privacy, and fraud were cited as their primary reasons for not adopting online banking. The study found that whether they bank online or not, more than half (53%) of respondents want to hear more about the initiatives their banks are undertaking to combat online banking fraud. They cite the following actions banks can take to help them feel more comfortable: Provide better back-end fraud detection systems 43% ---------------------------------------------------------------------- Create fraud resolution programs 41% ---------------------------------------------------------------------- Provide educational information about online banking fraud 35% ---------------------------------------------------------------------- Regularly contact customers about online banking fraud prevention initiatives 34% ---------------------------------------------------------------------- Conduct advertising campaigns communicating online banking fraud prevention initiatives 22% ---------------------------------------------------------------------- Participants, consisting of 300 banking Americans were randomly recruited online using InsightExpress patent-pending e-RDD methodology. The survey was created, distributed, and tabulated in 24 hours in late-September 2004. The data has a tolerance of +/- 5.6%.

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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech