Lloyds Security Device A Success
Lloyds TSB announces major breakthrough in online banking security
7th March 2006
Lloyds TSB have announced a 'major breakthrough' against online banking fraud as trials of its new access code device prove to be successful.
The device requires users to enter a unique one-time 6 digit code whenever they log in to their online accounts, and of the 23,500 customers taking part in the trial, there were no instances of fraud detected.
The device was also popular with customers, with 70% describing the device as very good or excelletn, and 95% agreeing that it was easy to use.
Matthew Timms, Lloyds' director of internet banking, said:
"The fact that nobody taking part in the trial has had any fraud on their account since using this device is testament to the fact that technology is the way forward."
Read More: Press Release (PDF)
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