Phone banking succumbs to net pressure
(15 January 2010 – UK) Over 50 percent of British adults now use internet banking, sparking a dramatic decrease in the use of phone banking.
Over 22 million adults said that they have used online banking to gain access to information on their current accounts in the first half of 2009.
Since internet banking was launched in Britain 12 years ago its population has risen rapidly with 95 percent using online banking to check balances and 83 percent using the technology to reconcile statements.
According to figures from the Consumer Payments survey, the number of people using phone banking has seen a sharp decrease dropping from 16.1 million in 2005 to 14.5 million users in 2009.
The immense increase in the use of online banking has prompted the industry body, Financial Fraud Action UK, to update its security advice for customers using the net.
The guide developed due to the large variety of different scams operating covers some of the most frequent scams consumers get caught up in and also gives consumers advice on the benefits of remote banking and commonsense steps that can be used to minimise the risk of become the prey of fraud.
Katy Worobec, head of fraud control, Financial Fraud Action, said that online and phone banking has totally changed the way consumers manage their accounts, enabling them to keep a much closer eye on their finances outside of traditional banking hours.
The chances of becoming a victim of online or phone banking fraud are low, but there are a number of common sense steps that people can follow to significantly minimise the chances of becoming a victim of fraud. Ms Worobec highlighted.
Since internet banking was launched in Britain 12 years ago its population has risen rapidly with 95 percent using online banking to check balances and 83 percent using the technology to reconcile statements.
According to figures from the Consumer Payments survey, the number of people using phone banking has seen a sharp decrease dropping from 16.1 million in 2005 to 14.5 million users in 2009.
The immense increase in the use of online banking has prompted the industry body, Financial Fraud Action UK, to update its security advice for customers using the net.
The guide developed due to the large variety of different scams operating covers some of the most frequent scams consumers get caught up in and also gives consumers advice on the benefits of remote banking and commonsense steps that can be used to minimise the risk of become the prey of fraud.
Katy Worobec, head of fraud control, Financial Fraud Action, said that online and phone banking has totally changed the way consumers manage their accounts, enabling them to keep a much closer eye on their finances outside of traditional banking hours.
The chances of becoming a victim of online or phone banking fraud are low, but there are a number of common sense steps that people can follow to significantly minimise the chances of becoming a victim of fraud. Ms Worobec highlighted.
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