Extra Security Makes Online Bankers Nervous

In an effort to protect customers against fraud like phishing, banks have added extra security features for people who bank online.

Gary Sidaway from ID and authentication firm Tricipher said the extra security precautions could make customers more jittery about banking online. "The banks have to make this channel secure," he said, "but there is crumbling confidence in it."

Andrew Moloney, financial services market director for RSA Security, said banks know that increasing security around online banking could have a negative outcome. "It registers as a concern," he said, "there could be too much security and there's a danger of over-selling a new technology,' he told the BBC.

"This is not just about combating fraud," he added. "It's about customer retention rates, user experience and customer satisfaction."

In 2005 the U.S. Federal Financial Institutions Examination