Although research conducted in the US shows a decline of 29% in Internet banking users, World Wide Worx confirms this is not the case locally.
The IT research company compiled a paper on online banking trends in 2004 and is now updating its research.
"Research we have been conducting over the last six months continues to show that Internet banking users are increasing by 25% to 35% annually," says Arthur Goldstuck, MD of World Wide Works.
This is not the case in the US, however, where IBM research shows that 29% of users stopped paying their bills online in the last year, and 37% stopped putting their details online altogether.
"Identity theft has caused a huge loss in confidence from companies and their staff," says Alkesh Patel, IBM South Africa`s principal consultant, Security & Privacy Services. "It is one of the fastest growing crimes in the world."
"South African banks have shown commitment to peace of mind of the user," says Goldstuck. "Online banking fraud has been minimal and has affected individual computers rather than penetration of banking systems."
Past banking scams affecting South African banks have included phishing attacks and recent incidents include the use of key-logging devices installed on public PCs to steal sensitive data.
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