Fraud Survey Results: 82% Less Likely To Respond To Legit Banking Emails Due To Phishing

Security firm RSA released the results of their annual online security survey, and the results are interesting. It seems that phishing and other forms of fraud are taking a toll on users.

•91% of account-holders answered that they are willing to start using a new authentication method, beyond the standard ‘username-and-password’, if their banks decided to offer stronger security

•69% of account-holders believe that financial institutions should replace username-and-password log-in with stronger authentication for online banking

•82% account-holders are less likely to respond to an e-mail from their bank due to scams including phishing

Is added security a deciding factor when you choose a bank? Would you like your checking account monitored for possible fraud, much the same way credit cards are monitored today?—MEGHANN MARCO

RSA Announces Findings of Annual Consumer Online Fraud Survey (Press Release) [RSA]

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  1. KevinQ says:

    I find that I’m much less likely to click a link in an email now. If I think the email’s legit, then I just go directly to that site and sign in and do whatever I need to do. A little suspicion is a good thing.

    K

  2. kenposan says:

    Fortunately I don’t get emails from my bank, everything is messages on the website. They also recently increased logon security. Kind of a pain initially to set up but I am glad they did it.

  3. frowelishnu says:

    ING has a pretty beefy security system.
    They ask different information for each login,
    have you select a phrase a picture to avoid dummy sites,
    and enter your pin by using on onscreen keypad or with randomized letters corresponding to the numbers.
    The best part is that you can register your computer so that this doesn’t have to be done at home every time, just computers you share.

  4. All the comments about ING and that other online banking outfit are convincing me to check them out.

  5. formergr says:

    Holden-
    They offer great rates, and the few times I’ve had to call them, I think I even reached a human directly. Regardless, the agent was courteous and seemed quite capable of independent thinking.

  6. Mr. Gunn says:

    Seconding ING. They’ve got a fairly secure login process, a well designed site, and the few times I’ve needed to call about something, they’ve been able to handle it easily and directly.

  7. mathew says:

    What I want to know is why none of the banks bother to sign their e-mails with S/MIME. It’s supported in every major e-mail client.

    Sending financial e-mail without S/MIME is like setting up your bank’s web site without SSL…