I’ve written about bank security before (see Innovation in banking) with concerns over password authentication generally in banking transactions. This evening, I received a phone call from the fraud departments of one of the financial institutions I have a credit card with wanting to discuss my account. I immediately asked for their details and called back on a known number and was put through to the person in question.

At the end of the call this individual advised me that I could always identify them as a legitimate caller by having them provide me with some personal information about me. Although they have called me on a known number they have listed for me, if for example I had my wallet and mobile phone stolen, then calling me on my mobile phone would alert thieves that the bank fraud department was onto them.

Although banks are getting a lot better (certainly with respect to having no objection to a request for a customer to call them back), some more thought needs to be put into this process in the world where identity theft is becoming increasingly common.

This entry was posted on Monday, September 18th, 2006 at 8:02 pm and is filed under annoyances.blog, general.blog. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.