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Barclays tackles phishers with digital solution

London-based Barclays Bank has reportedly managed to bring down cases of online financial fraud, some of which arise from ID theft, by adopting digital internet security measures, it has been stated.

The bank, which with six million online banking customers boasts the highest number of registered online banking users in the UK, is now using smart cards and readers from digital security provider Gemalto.

According to Banktech.com, since the firm deployed the security measures which authenticate online customers from the Amsterdam-based digital security provider, phishing against the bank's customers has declined.

Sean Gilchrist, the bank's digital banking director, is quoted as saying: "Phishing attacks decreased dramatically against Barclays whilst increasing to an all-time high for the UK banking industry."

The online security solution, which was introduced initially to just 800,000 online banking customers in August 2008, is now being used by more than two million customers, says Mr Gilchrist.

According to the UK payments association Apacs, online banking fraud with cards not present have risen by 298 per cent since 2000.

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