Banks struggle with customer IDs

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One in four banks finds it difficult to verify the identity of online banking customers, according to a new survey. The Kaspersky Lab’s Financial Institutions Security Risks survey found that 24 per cent of banks worldwide struggled with the identification of their customers when delivering digital and online banking services.

The report warned the verification of a user’s identity should take centre stage in the cybersecurity strategies of financial institutions. “With the rise of online and mobile banking, customers are not only becoming victims of financial fraud, but also a major entry point for attacks on banks’ digital channels,” said the report released yesterday. According to the research, last year, 30 per cent of banks have had security incidents affecting banking services delivered via the Internet.

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