Internet Banking Warning

[Spotty]

Heres a story that will make your hair curl and rethink just how secure is internet banking?

Had a few grand taken out of my account fraudulently....the bank replaced the stolen money which is a relief but its been a stressful few weeks.

I had the latest antivirus software and XP service pack 2 installed on my work PC. The antivirus downloads updates each day and regularly auto scans my PC. Somehow an infosneak virus got into my PC....it monitors and forwards your keystrokes to a remote user....blah blah.

Apart from the fraud and the security thing what really concerns me is the process the bank take you through.

Why do I have to get a police report - when it is the banks system that has been breached - if a branch is robbed in a stick up - the bank loses out calls the cops etc ......gets the report ...not me.

Why do I have to assign via a stat dec the conducting of my investigation away from the police ....to the bank. This doesnt seem very independant - besides my fraud could have just as easily been committed within the bank.

When you sign up for internet banking the bank specifies the minimum computer security requirements you must have - where does this leave your employer or an IT contractor in terms of potential liability if the workplace internet secuirty systems fail and a fraud occurrs with an employees bank account where the employer allows staff to conduct internet banking. If the staff member is the victum of a fraud and the bank fails to cough up then the employee may have case to sue the employer or the IT contractor.

After talking to a few colleagues who work in banks there is a great deal of internet banking fraud happening out there....the banks are keeping it quiet - you can understand why.....if people lose confidence in the security of internet banking the cost to the banks to reinstate their branch structure would be horrific.

For me.....no more internet banking.......its conveiniant but the risks and the other potential complications are to great. In case you wondering 'which bank'....it wasnt 'that bank' but the whole expereince left me feeling rather 'blue'.