Bank customers shrug off security threats

A new Gartner study finds that the public is more concerned about high banking fees than they are about security to protect their bank accounts. More customers switch banks because of fees than because of security issues. One out of five moved to a new bank because of "excessive" fees. Just one out of 25 consumers switched banks because of security worries, according to a poll of 5,000 online adults in 2007. Perhaps customers take security for granted in the wake of marketing dollars spent telling consumers that their money is safe in bank accounts, because it's clear that the banking public is more interested in lower fees than they are in anything else.

For more banking and security:
- see InformationWeek article [1]