Online banking is growing in popularity, according to Financial Fraud Action UK.
The organisation carried out a poll of consumers and found that the vast majority of people who use the internet now do their banking online. The group said that this highlighted the importance of ensuring security is tight.
According to the research, 95 per cent of people that use
online banking facilities do so to check balances, while 83 per cent do so to look at their statements.
The poll also found that less than 20 per cent used
online banking to make enquiries about their account.
Financial Fraud Action UK’s head of fraud control Katy Worobec says, "online and phone banking has totally changed the way we manage our accounts, enabling us to keep a much closer eye on our finances outside of traditional banking hours."
“Common sense steps” should be taken to minimise the risk of being a victim of online fraud, according to Worobec. However, she added that the chances of becoming a victim of online fraud remain rare.
Online banking fraud totaled a value of £39 million in the six months to June 2009, which represents a 55 per cent increase on the amount defrauded in the same period a year before.
