Cost of online convenience is too high
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?