Security needed for online banking

National’s Commerce spokesman, Brian Connell, says Labour must step in to ensure the security of the bank accounts of more than one million New Zealanders, from internet hackers.

He is commenting on reports today outlining the ease with which computer hackers can access personal bank account details from the internet facilities of New Zealand banks.

The Police have warned that internet banking is unsafe.

Mr Connell says the 1.3 million New Zealanders who use the internet for personal banking will find these revelations alarming.

“A joint approach to internet banking security is needed with involvement from Government, banks and the police e-crime unit to ensure the funds in these accounts are safe.

“Labour must act immediately to set a minimum standard of security. Most New Zealand banks require only one password. The bar needs to be raised to account for the police recommendation of two,” says Mr Connell,

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