Europeans worry about online banking security

Wednesday, 30 March 2005, 5:29 PM EST

Phishing, keystroke logging and other types of scams are increasingly worrying users of online banking services in Europe while scaring others away, according to a report issued Tuesday from Forrester Research Inc.

To retain online customers and win new ones, banks will need to change many consumers' belief that online banking isn't safe. That means, according to Forrester, banks can't rely solely on governments or ISPs to make the Internet a safe place to do business but must deploy or strengthen two-factor authentication and educate Net users about security precautions, such as firewalls.

By John Blau at IT World.

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