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British Banks Rule Change Prevents Phishing Fraud
By John F | June 22, 2008
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Image: FreeDigitalPhotos.net
British banks have changed a rule within the banking code to prevent them from paying out to customers that have been victims of Phishing or online bank fraud.
It concerns section 12.13 of the banking code which has been added to state: “Unless you have acted fraudulently or without reasonable care (for example, by not following the advice in section 12.9), you will not be liable for losses caused by someone else which take place through your online banking service.”
I can totally understand why this rule change has come into effect. There are quite a few clueless fools out there who do write their passwords down on on a post-it stuck to their computer screen, are infected with god knows how many malware or keyloggers, or access their bank accounts at Internet cafes and then wonder why their bank account is siphoned off to nothing.
What the banks are now saying is: you must prove to us that your computer is protected with reasonable anti-virus, anti-spyware, anti-histamine and anti-malware software. If you don’t and you get caught, then they will not pay up.
I for one agree with them. They didn’t really advertise this rule change, but what do you expect, they’re banks, the small print experts. Normally banks are just one rung above estate agents and traffic wardens, but this rule change will unfortunately teach some people a harsh lesson, but for the majority will not cause much concern.
Topics: Computer Security Usefulness |