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Online banking 'makes sense', says security company

Credit card holders may be interested in comments from the director of a security solutions company that it can be a good idea to bank online.

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9 September 2009

Online banking 'makes sense', says security company

Jacques Erasmus, director of malware research at Prevx, said he did his banking online and in terms of convenience and ease of use, it makes sense to do so.

However, he suggested consumers - which could include credit card holders - should make sure they stay secure when they use online banking facilities.

He said users should have some sort of anti-malware or anti-virus software fitted on their computer.

Mr Erasmus also recommended considering a layered approach to online security because new threats emerge all the time, which may fall through the net of traditional products.

"By installing anti-malware products that can sit on top of your existing solution and detect new, fast emerging threats, you can have greater confidence in online banking," he said.

The director's comments follow the release of a report by Mintel, which revealed the expansion of online banking has fundamentally changed the retail banking sector.

According to the research, there is a move towards online transactions, with around 34 million people now using the internet for banking activities.

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