UK High Street Banks Fail Tests on App and Online Security

Major High Street banks have been told to “urgently address potential loopholes” in their mobile app and online security setups. TSB, the Co-operative Bank and Lloyds were called out for apparent security failings.

“From failing to enforce the adoption of strong passwords to exposing customers to text alert scams, these are security weaknesses you would expect to see in small businesses, not world-leading banks”

A report by consumer group Which? tested banking website and app security for login procedures, security ‘best practice’, account management and navigation and logout for 13 current account providers. Named in particular were TSB, the Co-operative Bank and Lloyds. TSB was scored 54% for its mobile app security and 67% for its online security – the lowest and second-lowest scores respectively. Which? said the bank’s handling of sensitive data meant that it could be read by other apps running on the phone, while the app stores users’ credentials in a way which may make it more likely that other apps could access them.

Our CTO, Ryan McConechy, shared his thoughts on this recent news with SC Media. Read the article in full below.