Cost of online con­ve­nience is too high

The Sunday Post (Dundee) - - Memory Walks -

THE worst thing about the online scam suf­fered by our colum­nist Don­ald MacLeod (page 19) is that it could hap­pen to any­one.

In­deed, it is hap­pen­ing ev­ery hour of ev­ery day to cus­tomers of ev­ery bank in ev­ery coun­try.

It takes very lit­tle ef­fort from these cy­ber crim­i­nals.

And Don­ald is right. We are forced down the online route by banks. They in­sist we must con­duct more and more of our busi­ness on the in­ter­net.

Quick trans­ac­tions may be use­ful, but they have to take se­cu­rity a lot more se­ri­ously.

More of the money they’ve saved by au­tomat­ing all the old pro­cesses should have gone to beef­ing up se­cu­rity.

Our bank ac­counts should be safe. Com­pletely, en­tirely, re­li­ably safe. It is our money, not the bank’s.

Be­ing robbed is a ter­ri­ble ex­pe­ri­ence no mat­ter how it hap­pens. It’s not just the money. The emo­tional tur­moil ex­pe­ri­enced by the vic­tims is huge. It leaves us feel­ing vi­o­lated and fear­ful about what might hap­pen in the fu­ture.

Many of us miss the days when we vis­ited a bank with a man­ager and staff on the desk that we knew.

Yes, we may be hark­ing back to times that can never re­turn. But in years passed, no one suf­fered thefts in this way. Money in the bank was safe be­hind strong walls and barred win­dows.

Is this re­ally progress? The banks sold us con­ve­nience – but at what cost?

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