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Card fraud prevention put to the test
At a time when 69% of people would prefer to shop on the internet with a credit card because they feel it's safer, Abbey Banking put different card fraud prevention options to the test. 1,000 people were surveyed and Abbey's research found that despite the ongoing desire for security, the key thing for customers is 'no hassle'.
Despite the concern about card safety, just 32% said they want their bank to give them a security device to further protect online transactions. Even less popular was the option of asking more security questions (at 30.5%). Instead, more internet banking users would like better monitoring of transactions by their bank (40%).
Concern about internet fraud is highest amongst the under-25s - Abbey's research showing that almost half claimed the issue of internet fraud influenced the card they used when they made transactions online.
Abbey says it constantly monitors accounts for fraudulent activity and where suspect transactions are identified, the team contact the customer on their mobile to ask them to verify that they made the transaction. If a customer doesn't verify the transaction, an automatic block will be put on the account.
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