Tesco and TSB have the worst online bank security, according to major probe by consumer watchdog

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Tesco and TSB have the worst on-line financial institution safety, in keeping with main probe by shopper watchdog

  • It was discovered Tesco Financial institution, TSB and Santander had the worst gaps in on-line security 
  • About £207.8m misplaced to financial institution switch scams in first half of final yr, present figures
  • Tesco Financial institution had the poorest score, Which? and safety specialists 6point6 discovered
  • TSB completed second from backside and Santander rounded off the underside three 

On-line safety flaws at main banks are leaving prospects uncovered to fraud, an investigation has discovered.

Tesco Financial institution, TSB and Santander had the worst gaps in on-line security, in keeping with shopper group Which?

About £207.8million was misplaced to financial institution switch scams within the first six months of final yr, trade figures reveal.

Tesco Financial institution obtained the poorest score, Which? researchers and safety specialists 6point6 discovered.

Tesco Bank, TSB and Santander had the worst gaps in online safety, according to consumer group Which?, with Tesco Bank receiving the poorest rating (file photo of office in Edinburgh)

Tesco Financial institution, TSB and Santander had the worst gaps in on-line security, in keeping with shopper group Which?, with Tesco Financial institution receiving the poorest score (file photograph of workplace in Edinburgh)

Among the many points, it failed to dam testers from logging on to its web site from two pc networks on the identical time and didn’t log them out after they switched to a different web site.

TSB completed second from backside. Which? stated it had discovered points with the login course of, which didn’t meet laws launched in March. Santander rounded off the underside three.

Starling Financial institution got here out prime. Which? stated there was nothing regarding with its new on-line banking web site. Barclays, HSBC and First Direct tied for second spot with room for enchancment.

Harry Rose, Which? journal editor, stated: ‘The intense failings we uncovered reinforce the necessity for banks to up their recreation on rip-off protections.’

TSB finished (file photo of branch in Hounslow, Middlesex) second from bottom. Which? said it had found issues with the login process, which did not meet regulations introduced in March

TSB completed (file photograph of department in Hounslow, Middlesex) second from backside. Which? stated it had discovered points with the login course of, which didn’t meet laws launched in March

Santander rounded off the bottom three. A spokesman for the bank said: 'The Which? review only focuses on the customer-facing elements of security' (file photo)

Santander rounded off the underside three. A spokesman for the financial institution stated: ‘The Which? assessment solely focuses on the customer-facing parts of safety’ (file photograph) 

A Tesco Financial institution spokesman stated it took the safety of its prospects ‘very critically’ and added: ‘Lots of the safety measures we use on prospects’ behalf will not be seen to exterior events, and these measures invalidate a variety of the findings of this survey.’

A TSB spokesman stated offering prospects with protected and safe banking as a precedence, including: ‘We’re the one financial institution that gives a assure to refund all harmless victims of fraud – together with those that lose cash to on-line scams.’

A Santander spokesman stated: ‘The Which? assessment solely focuses on the customer-facing parts of safety and it is very important perceive that there are lots of different ‘again finish’ measures that we make use of to make sure we hold our prospects protected.’

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