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Abbey puts card fraud prevention initiatives to test

Abbey Banking has put different card fraud prevention options to test. Abbey's research found that despite the ongoing desire for security, the key thing for customers is 'no hassle'.

Despite the concern about card safety, less than one-in-three people want their bank to give them a security device to further protect online transactions. Even less popular was the option of asking more security questions and instead, more internet banking users would like better monitoring of transactions by their bank.

Abbey’s research has revealed that concern about internet fraud is highest amongst the people aged under-25. It also showed that almost half claimed that the issue of internet fraud influenced the card they used when they made transactions online.

Neil Wilson, director of financial crime at Abbey, said: Not surprisingly the research suggests that people want security with the least hassle. Finding customer-friendly ways to protect people and their accounts is key. Ongoing monitoring is one of the most important factors in preventing card fraud. Abbey is strong in this area and has continued to invest significantly in monitoring over the years.