Online Banking Fraud in UK Reduces by 67%

According to research study done by APACS - the UK payment Association, Online banking fraud losses by 67%.

According to the study, The introduction of chip and PIN has made it more difficult for fraudsters to commit card fraud in the UK.
Online banking fraud losses fell by 67 per cent from £22.4m in the first six months of 2006 to just £7.5m in the same period this year. This decrease occurred because online banks have successfully implemented a range of measures to detect and prevent fraud, coupled with the fact that there was an unusually high level of online banking fraud in the first few months of 2006.

Sandra Quinn, director of communications at APACS, says:

“The banking industry also continues to work with law enforcement, card accepting businesses, the Home Office and organizations such as Crimestoppers to help deter and prevent the fraudsters"

So we continue to urge people to register with the secure online payment systems - MasterCard SecureCode and Verified by Visa - which help prevent cards being used fraudulently over the internet.

So above was the excerpt from the APACS (Complete Article here).
There's two points to ponder or rather to be taken notice (highlighted)

1. It's Very important to include "Security Features" if you do have a finance related sites and show how well equipped you are to fight Fraud (Example "Chip and Pin" technology in UK)
2. A Security Logo like VeriSign for Finance related Site and "MasterCard SecureCode" and Verified by Visa for E-Commerce are huge bonus to gain Visitor Confidence.

Finally, With E- Servicing being one of the Top Priority for choosing a card/services, Brand, Trust, and Security icons, which are clearly visible on the landing page will help deliver confidence message.

Have i missed anything, please let me know via comment.

Technocrati Tags: Landing Page design, landing page optimization, web analytics, Financial Services, online fraud, UK Online