Banks looking for customers to help fight fraud

The major banks are offering customers discounted online security products to assist in fighting online banking fraud that is estimated to be costing more than $100 million per year. Both NAB and St George have confirmed they have entered into website referral agreements with a variety of software companies whilst CBA, Westpac and ANZ are expected to announce similar ventures in the near future. The move by the major banks to promote online security initiatives is a significant shift in strategy in assisting customers with their personal online security requirements.