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November 11, 2003

Paying Bills Online Fights Fraud - maybe ...

Paying Bills Online Fights Fraud: Report

Nothing like a good offence to take on detractors. I kind of like this report, but having read this review, found its not that well thought through in parts.

The conclusions are that use of internet will reduce opportunities for fraud. Two ways are listed:

1) payment of bills online means less paper in the mail box, so less opportunity for identity theft. I dont buy this one - few billers have turned off the paper for those customers who pay bills online.

2) use of online banking, means customers check their accounts more frequently and with greater diligence, so fraud is noted and reported sooner, thus reducing the cost of the fraud. This one has some merit.

All in all, a catchy headline, but firmly in the "nice try" category.

Story

November 11, 2003 at 01:25 PM in Financial Services, Online crime | Permalink | Top of page | Blog Home