Internet fraud - Brits could care less

Half the British population 51% say they aren't concerned about Internet banking fraud, even though 93% realise it's not a victimless crime, new research from Lloyds TSB Internet banking reveals.

To help customers understand how to protect themselves from online fraudsters, the bank has produced an Internet security podcast, voiced by the former children's TV presenter, Johnny Ball, available at www.lloydstsb.com/security.

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The lack of concern about Internet fraud seems to be driven by a belief that little can be done to prevent it. 26% of the population say Internet fraud doesn't concern them because 'these things happen'. Meanwhile, 39% say they aren't bothered by the thought of online crime because their bank will always reimburse them, while 48% don't care because they feel the convenience of Internet banking outweighs the risk of fraud.

Despite the fact that 90% believe they've done all they can to avoid becoming a victim of online banking fraud, only 20% feel they fully understand how to stay safe online. Indeed 24% say they could be better informed about online security.

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Interestingly, the younger generation feels the least well informed about how to avoid Internet fraud. Only 15% of people aged 18-25 say they feel 'very well informed' about what they need to do to avoid becoming a victim of online banking fraud, compared to 22% of 35-50 year olds and 29% of those over 65. Men are also much more likely to feel they have adequate knowledge than women. 26% say they are well informed, compared to just 14% of women.

Ian Larkin, managing director, consumer banking, Lloyds TSB, makes the point that anyone using online banking needs to make sure they choose strong passwords, regularly update the security of their PCs and keep their details secret at all times.

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2007-08-15 12:26:17 © Moneyextra.com