KEY POINTS:
New Zealand's mainstream banks have suppressed information about the level of concern over the security of online banking.
Polling company Neilsen, which conducts surveys for the Bankers' Association, yesterday published a news release showing the uptake of online banking, but when asked about security questions, spokesman Donald Sheppard
said banks didn't want that information released.
"The banks we work with didn't really want that going to press because it's a little bit of a can of worms for them," he said.
"People are naturally concerned about online banking and that kind of thing and there's been a lot of info in the press about all these scams and phishing and all of that.
"We do monitor it ... but our clients are the four main banks and they didn't want that going out into the public arena because they didn't want another song and dance about that."
In July, the Bankers' Association issued a new code of practice which said internet customers could find themselves liable for any loss suffered through online fraud if they did not have up-to-date protection software.
In Australia banks cover such losses and since controversy erupted here over the new code, Westpac and BNZ backtracked and have promised to pay back any money lost by victims of fraud.
BNZ has also announced it would make two-step verification of online transactions compulsory by next month. In some countries customers need to take six steps to authenticate their identity.
Mr Sheppard said banks were concerned about attitudes to the code.
"I'm sure they are monitoring it quietly but I guess they didn't want the boat rocked on that one. I guess we [Neilsen] are respecting their wishes."
Mr Sheppard said all the banks get the information, buying it from Neilsen.
He said nothing bad was happening and he described it as a "storm in a teacup".
"They do monitor that and some people are highly, highly concerned and some people are really, really, blase.
"You and I, as normal, rational citizens, of course we are concerned about online banking - it's our money, for God's sake - and we don't want things to happen with our money. But what the banks didn't want us to do and say is x per cent are concerned about online banking because somebody is going to read it and go 'ooh this is really, really bad'.
"They just didn't want to raise this can of worms."
Mr Sheppard said Neilsen asks half a dozen generic questions about online security. Methodology changes meant he couldn't say what the trend was.
Despite any concerns about security, the survey showed New Zealanders were rapidly taking to internet banking and it is now becoming mainstream.
Eighty-four per cent of people over 15 have internet access and 71 per cent use it at least once a month. Of those who use it, 68 per cent used online banking in the last month, while 57 per cent used it at least once a week.
ASB, Westpac and National Bank all had more than half a million unique browsers a month.
ASB had the highest proportion of customers who used online banking in the last month (85 per cent), followed by Kiwibank (81 per cent) and Westpac (77 per cent).
- NZPA
