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8 Sept 2005

Online bankers risk ID theft

Reporting on a study of 1,000 US users of online banking by a market research firm, ZDNet UK News said "many consumers were worried that their personal information could either be stolen by hackers and phishers or sold to third parties by banks. Nearly 83 percent of those who conduct banking online reported such concerns, while 73 percent of respondents said personal information theft is a deterrent for them." By neglecting to mention the threat of ID theft from offline bank users, ZDnet implies that online banking is especially risky, although other studies have indicated the opposite (e.g. see last Friday's blog entry).
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