New banking code cracks down on out-of-date software
By OUT-LAW.COM Published Friday 4th April 2008 07:02 GMT
The banking industry has re-affirmed a policy that makes online banking customers responsible for losses if they have out of date anti-virus or anti-phishing protection. New Banking Codes for consumers and businesses took effect on Monday.
The Banking Code produced by the British Bankers' Association (BBA), and followed by most banks, makes it clear that banks will not be responsible for losses on online bank accounts if consumers do not have up to date anti-virus, anti-spyware, and firewall software installed on their machines.