Internet security should be a standard for online vendors not a competitive edge, says Roland le Sueur, head of First National Bank Internet Banking.
Le Sueur says the Electronic Communications and Transactions Act has propelled SA ahead of other countries in terms of legislated security measures to protect the online customer.
"The Act is aimed at encouraging more confidence in online transactions. Certain of these provisions require online vendors to apply proper security measures specifically in respect to online payments." One of the key provisions of the Act relates the provision of a secure payment solution that contains the necessary audit trails.
Le Sueur says as an online vendor, FNB will conform to Section 43 of the Act, which covers 18 key areas that online vendors need to adhere to.
He says that government not only seeks to protect consumer rights but also to encourage greater confidence in, and up-take of e-commerce.
"The banks and the government are working together to protect the customer. The banks should also be joining forces in an effort to protect consumers and the future of Internet banking," he says. "Banks have their own unique applications, but wherever there is a need for a standard, they work together from that point of view to provide a common solution."
Share
