Reducing on-line banking fraud, given the growing digital economy following COVID-19 lockdowns.

The major banks are seeking to maximise profits at the expense of their customers by reducing their Banks’ liability for on-line banking fraud.

There needs to be a legally enforced social contract with the banks that protects customers.

On-line banking fraud is a sophisticated challenge.

Banks are in the best position to identify frauds within their industry and to pursue resolution.

Individual customers lack effective means for recovery of fraudulent loss.

Bank credit cards are obliged to compensate in cases of fraud. On-line banking needs a similar level of security.

Individuals need a bank account in this digital age but banks must accept there are responsibilities, when permitted to operate as a bank, that may reduce their profitability.




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