“Security is an absolute priority for Belgian banks,” especially since online banking took off in 2005 thanks to mobile phones and tablets, insists Febelfin, the financial sector federation, reacting to an article in Data News saying that the SSL encryption protocol used by Belgian financial institutions to protect communication with their clients is often very vulnerable. Since 2005, the sector uses a platform from which Belgian banks can share, among other things, good practice advice. Febelfin points out furthermore that banks regularly run awareness-raising campaigns to fight online banking fraud.
These campaigns and extra vigilance on the part of users themselves had led to an 85% fall in the number of cases of fraud recorded in 2014 compared to 2013. Last year, 277 cases of online banking fraud were recorded, representing a total of approximately 650,000 euros.
Christopher Vincent (Source: Belga)