Barclays steps up the level of its online security
In a bid to counter soaring levels of online fraud affecting its UK current accounts holders, Barclays Bank is handing out chip and pin card readers as part of a new security initiative.
The handheld device, called a Pinsentry, can be used to login to the Barclays website and to make certain types of payments. More than half a million of the bank’s customers will be sent a machine by the end of the year.
A spokesperson for the group said Pinsentry meant that there would now be four levels to online security. To access their account a customer would need their debit card, its Pin number, the customer’s online security number and the device.
Once the customer had swiped their card through the device, and entered their Pin, they would be issued with an eight-digit code, which alters every time the machine is used.
“We are constantly working to help protect customers and the money in their UK current accounts and that is why we have invested in this system,” said Barnaby Davis, director of electronic banking at Barclays.
“We believe it is going to prove very difficult for anyone to break into this system and interfere with our customers’ UK current accounts,” he added.