According to AsiaOne:

BANKS trying to grow their online banking community have their work cut out as online scams are shaking consumer confidence in Internet banking, according to a new survey by security specialist RSA.

Fifty-two per cent of the survey respondents said that they were less likely to sign up or use Internet banking due to online scams like phishing, RSA’s latest Financial Institution Consumer Online Fraud Survey found. RSA is the security arm of enterprise storage giant EMC.

The online survey which is in its fourth year, was administered by US-based online market research firm Infosurv and involved 1,678 adult participants from eight countries. Respondents from Singapore numbered 208, or 12 per cent, while the other respondents were from the US, UK, Germany, France, Spain, Australia and India.

The survey also found that through the years, a growing number of respondents were less likely to respond to e-mail from their banks due to the prevalence of online scams like phishing. This year, some 82 per cent of respondents with bank accounts fell into this category, up from 79 per cent in 2005 and 20 per cent in 2004. At a local level, banks in Singapore seemed to be on the right track with their implementation of two-factor authentication (2FA) for online banking last year, as 96 per cent of local respondents felt that banks should use stronger authentication methods beyond the traditional ‘username and password’ methods, while 62 per cent wanted banks to improve phone banking authentication as well.

The holy grail of internet business is gaining the confidence of the consumer…to start to spend money online! These online scams like phishing are hurting the internet business startup. It’s time we get back at these con artist.

Anyone have ideas to get back to these con artist do buzz the comments button and let us know how you manage to get back to the scammer!

My imaginary solutions (fantasy) is to track down these people(s) and lock them up in a unclean toilet for a month with their internet banking account balance displayed in front of them…their account username and passwords displayed in their own website…slowly their bank account goes down to zero…watch them scream!

Then collection a group of all the victims of phishing to line up to enter the toilet to throw a slap, punch, or kick at his helpless body…if he/she fainted…pour some cold water to wake him/her up.

While this is happening…a streaming video will be broadcast via the P2pTv and recorded for youtube distribution…later.

(Note: Violence are not recommended by the me and the above details are just a pigment of my own little silly imagination)

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