Lloyds TSB trials new online security

Lloyds TSB is trialling a new security system in a bid to fight online fraudsters.

The trial sees 30,000 customers testing a key ring sized 'Access Code Device'. The device generates a unique, one time only, six digit number that customers enter when they log on to the internet banking site.

Lloyds claims that by logging on to internet banking in this way, customers will be less vulnerable to fraud.

Matthew Timms, internet banking director at Lloyds, said: "Fraudsters are becoming increasingly cunning with their tactics, and there's no hiding the fact that fraud is on the increase. The trial of the Access Code Device is one of a number of security initiatives we are introducing to address the concerns of customers and stay ahead in the battle against online fraudsters."

Lloyds TSB is offering its customers a free PC security scan which will identify any potentially suspicious spyware and a 20 per cent discount on Zone Labs security software: ZoneAlarm Security Suite.

The bank said that its online guarantee means that, provided customers take reasonable steps to keep their security information safe, it will refund money in the event of fraud.

www.lloydstsb.com