It seems that in March 2008 the voluntary banking code that banks in the UK comply with was changed.
Part of this change includes this paragraph:
Online banking
12.9 Online banking is safe and convenient as long as you take a number of simple precautions. Please make sure you follow the advice given below.
* Keep your PC secure. Use up-to-date anti-virus and spyware software and a personal firewall.
And a little further down is this:
Liability for losses
12.11 If you act fraudulently, you will be responsible for all losses on your account. If you act without reasonable care, and this causes losses, you may be responsible for them. (This may apply, for example, if you do not follow section 12.5 or 12.9 or you do not keep to your account’s terms and conditions.)
And there it is in black and white, if you do not follow the advice from the banks then you have not taken ‘reasonable care’ and any losses that you suffer will not be protected by the bank.
Continue reading ‘The Banking Code of Conduct and liability for internet banking security’
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