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Released: July 30, 2010

Banks seek customers’ help to stop online thieves

Source: Byron Acohido, USA Today

For generations, U.S. consumers have relied on banks to bear the primary responsibility for keeping their hard-earned cash deposits out of the hands of thieves. Now, banks want consumers to share the load.

About 80% of U.S. households have come to do their banking over the Internet, banking consultancy Novantas says. Many consumers believe online banking is every bit as safe as branch banking. But that’s clearly not the case, banking and tech security specialists say.

Cyberattacks against individual online accounts have become so sophisticated and pervasive that the American Bankers Association (ABA) is now asking consumers to “partner” with banks to keep cyberrobbers in check.

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