Thu 14 Jun 2007
Considering whether to do an online transaction or send a cheque? Online may actually be the safer option. Cheque fraud costs banks millions per year while the losses due to online fraud are tiny in comparison.
Banks take a number of security measures such as: Encryption, Digital Certificates, and Session Timeouts to prevent security issues. Also when a security issue does occur it is much easier to trace online than for example if someone steals your cheque on rout to its destination.
If you would like to know what online security measures your bank takes, simply click on your bank name below.
ASB, ANZ, BNZ, Kiwibank, National Bank, Westpac
Hat tip to Philip Fierlinger for the idea for this post.