Following the widely-publicised Absa e-banking fraud, Standard Bank is offering clients free firewalls and security software, and Telkom has given the assurance that it offers a safe online banking channel.
The fraud incident sparked consumer fears about the safety of online banking, although Absa said last week that it had not resulted in a drop in e-banking client numbers. In fact, the bank claimed to have increased its subscriber numbers during the past week.
Taking the lead in assuring clients of safer e-banking, Standard Bank announced on Friday that it would make McAfee personal firewall and anti-virus software available to its 260 000 existing and new online banking customers as a free service for a year. A Pin Pad safety device has also been introduced to counteract keypad logging software, which was allegedly used in the Absa fraud case.
The software can be downloaded from Standard Bank's Internet banking site and will be made available for free for the first year, after which customers will be responsible for the maintenance fee on the software. McAfee anti-virus software normally sells for about $40. Standard Bank has agreed to negotiate on behalf of its client base to obtain bulk discounts once the one-year agreements expire.
"Security in the financial environment has to be a partnership between a bank and its customers," says Jacko Maree, Standard Bank chief executive. "We have taken the decision to assist our customers in ensuring that their personal computer environment is protected. We have also introduced additional security measures, which we believe are currently unique in the South African personal banking environment."
Standard Bank customers have to pass three security checks before accessing their online accounts. These include their card numbers, an alpha-numeric password, and the entering of PINs.
"The firewall and anti-virus software may not in all cases protect against third-parties gaining access to PIN information via so called 'spyware' software, therefore Standard Bank has also introduced a calculator-type Pin Pad to its online customers," says Johan Roets, Standard Bank director of direct distribution.
"This device will pop up when customers log onto the Internet banking site. Instead of using a keyboard to type in the customer-selected PIN, customers will use their mouse to click the numbers on the Pin Pad, making keystroke detection impossible via keystroke-logging software.
"We urge customers to make use of a reputable Internet service provider with effective anti-virus software. Tiscali has agreed to partner with Standard Bank to assist customers with queries and telephonic help."
Standard Bank and Tiscali have also launched two customer helplines for queries and support in installing the software. To install the firewall and anti-virus software, Standard Bank customers should log on to Standard Bank's Internet bank at www.standardbank.co.za. The helpline numbers are 0860 123 456 at Standard Bank, or 086 000 1177 at Tiscali.
The CyberTrade option
Meanwhile, Telkom has issued a statement assuring online banking customers that it still offers safe access to online banking through its CyberTrade service. CyberTrade is a standalone independent network with dial-up and fixed access that offers a number of business services, including secure gateways to all major banks.
"The gateways do not enter the Internet public domain but are managed from our data centre in Centurion. Telkom charges a monthly subscription and a per-minute charge based on the time spent online and various package options are offered to manage these cost-effectively," explains Rikus Matthyser, Telkom Business Integration Services executive.
When signing up for CyberTrade, customers are given a unique username and password. One ShareCall national number is used to dial into the service, which means that calls from anywhere in SA are charged at local rates.
Share
