Banks accused of neglecting customer security measures

News and information from the Advent IM team.

Many UK retail banks are leaving their customers exposed to fraud by neglecting to implement website protections and allowing users to set laughably insecure passwords to use their online services, according to consumer rights organisation Which?.

Which?’s investigation, conducted with assistance from security firm 6point6, tested the online and mobile app security of the UK’s 15 largest current account providers, measuring criteria such as encryption and protection, login, and account management and navigation.

The banks were rated on a score ranging from 1-100%, and although none of the organisations surveyed fell into the bottom half of that scale, the worst rated banks – Metro Bank, Virgin Money and TSB – scored 53%, 56% and 59%, respectively.

Read via Computer Weekly 

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