German Association of IT industry and Federal Authorities demand higher Online Banking security
Two days after VOICETRUST had presented its Banking Suite, the German Association of IT industry (BITKOM) and Federal Authorities have demanded an increase in security for Online Banking.
In 2009, there was an increase in fraud by 50 per cent in online banking. BITKOM estimates a new record of 2,900 incidents of phishing in Germany this year causing a loss of 11 million Euros.
After introducing iTAN for online banking transactions new malware has come up which successfully attacks this new security method. Entering passcodes in y keyboard is not enough to prevent fraud, BITKOM says.
The new VOICETRUST Banking Suite enables banks to allow their customers set up a transaction limit in online banking by which voice authentication is activated.
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