(PRWEB) October 9, 2007 -- Online banking service, RaboPlus (www.raboplus.com.au) announced results of the TNS/RaboPlus online survey showing bank customers are concerned their personal details will be stolen through online transactions and want banks to offer better security levels than user name and password.
The TNS/RaboPlus Online Banking Security survey of 1,043 Australia's retail banking customers, interviewed online this year, found that 76 per cent were concerned about personal details being stolen during online banking transactions.
The survey showed that approximately one in 10 households have been a victim of a form of online banking fraud and that 78 per cent of respondents want banks to upgrade their security beyond username and password. Currently, 59 per cent of customers have only user name, password and customer number with possibly one additional security question required to conduct transactions online.
RaboPlus Head of Financial Services, Bryan Inch said bank customers in Australia were well behind their European and US counterparts in online security.
"As online banking is one of the fastest growing areas in Australia, there is an understandable groundswell amongst bank customers to find the best in online security to protect their investments and themselves against fraud and ID theft," he said.
Less than 10 per cent of the respondents had two factor authentication.
This was backed up by US reports, as a global issue, with a new survey (http://download.mcafee.com/products/manuals/en-us/McAfeeNCSA_Analysis09-25-07.pdf?cid=36665) released in the USA, by the NCSA and McAfee demonstrating just how vulnerable most computer owners are, as the majority who believe themselves protected by security software actually discover they are instead woefully under-protected, reported ITWire (http://www.itwire.com/content/view/14705/1103).
Some banks in Australia offer SMS and one-time password tokens but only for high value and corporate customers or those making large transactions. RaboPlus - the DIY online banking division of AAA rated Rabobank (http://www.rabobank.com.au/) - offers all its customers a free Vasco Digipass (http://www.raboplus.com.au/online_security/default.aspx).
The Digipass is an easy to use handheld device which is activated by a PIN and is then used in conjunction with the customer's number and randomly generated number codes to access accounts and authorise transactions.
New codes are emitted by the Digipass for every login and each transaction when activated by the customer, thus online criminals do not have time to capture and replicate these codes.
Mr. Inch said the Digipass security device foils internet fraud by adding extra layers of security beyond that of a username and password, and even beyond the security level of a random number generating token.
Devices such as the Digipass provides greater protection against "man in the middle" attacks. These occur when the criminals position themselves between the customer and the bank and are able to read, insert and modify transactions without the customer knowing.
The survey found the majority of respondents - 76 per cent - considered a bank's online security system when deciding which online bank account to choose. Customers believe that the banks should take greater responsibility for online security with 63 per cent indicating that it is not sufficient for their bank to say that they will cover their investment losses without improving the online security system. Furthermore, 49 per cent of respondents felt that the banks should be liable for any losses despite security software not being kept up to date by customers.
When respondents were asked to rate the importance of factors preventing online fraud - 87 per cent said 'not writing down or telling anyone my password', 85 per cent said having up to date software and 80 per cent said not undertaking any online banking from an internet café.
Rabobank's direct banking arm in Europe has devised sophisticated measures aimed to protect customers from online fraud. Globally, the Rabobank Group (http://www.rabobank.com/content/) has over AUD 75 billion in online savings (in call and term deposits), with over nine million account holders using the secure Vasco Digipass.
Mr. Inch said there had been no successful online attacks against the Rabobank Group's direct banking arm and that Australian RaboPlus customers and their cash investments would be equally protected against online criminals.
View the full research results (PDF 82KB) (http://www.raboplus.com.au/binaries/RaboPlus_TNS_security_research_Jul07.pdf)
###
MenusWWW -- Showcasing Australian Dining To The World
MenusWWW is proud to announce the launch of its new meal search feature. Diners are now able to search thousands of venues across Australia for a particular dish. The meal search enables diners to compare individual restaurants' versions of a classic meal or simply find the venues serving their favourites.
Satellite Imaging Corporation Delivers IKONOS Imagery For Microsoft Australia Day Event
On Australia Day (January 26, 2007 - Australia Time), Microsoft has commissioned Satellite Imaging Corporation to task the IKONOS satellite sensor (at 0.8m resolution) to take a satellite image of New Norcia, which will depict the Yuat people reflecting unity. The scene was designed by three professional artists.
Australia Day will feature numerous events around the country. The custom imagery collected by Satellite Imaging Corporation (SIC) will be processed and made ready for an appearance at Look Up and Smile, the official site commissioned by Microsoft Australia. It will be overlaid on Virtual Earth maps in order to complement the event listings and photos uploaded by users.
The Virtual Earth map uses groundbreaking Microsoft technolo...
Travellers Auto Barn Wins Golden Backpack Award for Best National Transport Company in Australia
Travellers Auto Barn walked away with the coveted Golden Backpack Award for Best National Transport Company at the recent TNT Golden Backpack Awards ceremony in Sydney. Up against much larger companies among all types of transport, the backpacker vehicle rental and sales company came out on top.
SafeMedia Corp. Praises the Australian Government's Efforts to "Improve the safety of the internet"
"We have the solution for the Australian Government as well as USA Law Makers and RIAA." said Pasquale Giordano, President/COO, SafeMedia
Boca Raton, Fla. & Hollywood, Calif. - SafeMedia Corporation, based in Boca Raton, Fl., is praising an Australian government move toward installing ISP-level internet filtering technology as part of the federal Government's NetAlert package.
Opals Australia Gold
Though opals are found around the world, Australia is the biggest source Precious opal is a hydrous silicon dioxide material, that flashes iridescent colors when it is seen from different angles, or when the is moved or when the light source is moved
Australian Powerball Jackpot Biggest In History
The largest ever lottery jackpot in Australia history could be won this Thursday...
Ultimate Australia Drives
Kangaroos and didgeridoos, wombats and boomerangs, koalas and surfers, convicts and soap operas?Australia is a vast continent, rich in beautifully mysterious landscapes and a fascinating history What better way to discover down under than with a rental car and map
Wild Republic Launches Australia Zoo Steve Irwin Wildlife Adventure Series Products
Wild Republic, the nature toy brand of K&M International, today announced that the company will present a special line of toys and collector item series based on Steve Irwin's Australia Zoo, at The 2007 International Toy Fair held in New York, February 11-14.
Australian Hi-Tech Biodegradable Material – “Plastic from Plants”
High strength, cost-effective and aesthetic material launched.
A German designed eco-factory powered by bio-diesel and solar energy arrives in one of Australia’s favourite country towns. This new factory produces high quality musical instruments, light shades, homeware, furniture and other products from ‘Zelfo’. Zelfo is a biodegradable material produced from plant fibres and waste including hemp and sugar-cane. No toxic chemicals, resins or glues are used in the production of this moldable material.
All You Need To Know When You Travel Australia's Outback- Part One
Australia?s Outback isn't called the last frontier in the planet for nothing. For that matter, it isn't called Amazing for nothing either. The Outback is known as the ?Back of Beyond?, which just means it could be anywhere in the map. Or rather, it refuses to be mapped. It's one of the most magical, breathtaking, and simply glorious place you can ever visit. It's a feast to the senses as much as it is a challenge to the spirit. The lush landscape, blushing mountains, crazy rock formations, the solemn deserts, the vast skies, and bustling wildlife are only some of the wonderful and bizarre gems to unearth in your travel to Australia's Outback.
The Surfing Capital Of Australia
If surfing is your thing, then you must check out Bryon Bay, the Mecca of surfing in Australia. There you will find a place where surfing is not just a sport or favorite past-time but a lifestyle and local obsession.
Kick Start a Travel Writing Career with the World Nomads Ambassador Program - or Just See a Slab of Australia for Free
Travel all over the countryside, write about it, blog it and podcast it on the World Nomads website - vehicle and technical requirements provided free of charge - and you could be on your way to a career as a travel writer. Or at least a travel tragic!
ClinfoSource and Nucleus Network Create Alliance to Provide Online GCP Clinical Trial Training for the Australia Region
ClinfoSource, a US-based global online training company has partnered with Nucleus Network of Australia to provide web-based GCP training for clinical trials professionals in the Australia region, later to be extended to include New Zealand regulations. This program will offer clinical trial investigators, coordinators, research associates and others a solid and practical understanding of clinical trials conduct and management, the regulations and ethics central to the drug development process.
Australian Workplace Agreements - How They Work For You
The employer / employee relations environment has been constantly evolving during the last 25 years. In Australia, as in many western nations, the balance between employers and employees has shifted back and forwards usually in response to supply and demand.
Low Cost Travel Insurance Goes Live in Australia
A new travel insurance website has launched to give Australian travellers high quality holiday cover for a low price.