With fraud and cyber-crime accounting for almost half of all offences in England and Wales according to the DCMS’s 2021 Cyber Security Breaches Survey, data security has never been more important.
As cyber-criminals use increasingly sophisticated methods to target individuals and business’ alike, trust and confidence in organisations who hold our personal data is essential – none more so than with financial institutions.
The banking industry has been at the forefront of digitalisation and offers a wide range of online services that improve accessibility for customers. The industry has also invested heavily in security and continues to lead the way in keeping its customers safe online through education and awareness. The work that Barclays have been doing in this area through its network of Digital Eagles and its Digital Wings platform is one such example that shows the effort some banks are making to improve security awareness among their customers.
One of the most effective ways of demonstrating the quality of work banks have done in this area is by achieving a recognised mark of trust. Although the regulatory and legislative framework around cyber security is still very much in its infancy, there are a number of schemes that banks may wish to consider. One of these is the BSI Kitemark for Secure Digital Banking - which is currently the only assurance scheme for online banking recognised by the Police Digital Security Centre (PDSC).
David Mudd, Global Digital and Connected Product Certification Director at BSI said: “The BSI Kitemark for Secure Digital Banking gives users confidence that the banking application has the appropriate security controls in place. The Kitemark builds on ISO / IEC 27001, the Information Security Management Systems standard and verifies that the relevant digital banking application has been designed, developed and supported in-line with industry best practice. By achieving the Kitemark for Secure Digital Banking, Barclays is demonstrating excellence in the field of cybersecurity and is making the security of customers’ accounts and data a top priority.”
Barclays is the first bank to achieve the BSI Kitemark. This shows just how important it considers the security of its customers and the value it places on their personal data. The Police Service is continually working with financial institutions to improve their security, reduce their vulnerability to cyber crime and fraud and keep their customers safe. Barclays should be proud to be the first bank to have achieved BSI’s Secure Digital Banking Kitemark, which rigorously and independently tests websites and applications to make sure they have the security controls in place for the financial and personal information they are handling.
Jim Winters, Head of Fraud at Barclays, said: “We have no greater priority than keeping our customers’ funds and personal data safe, so we are proud to be the first bank to achieve the BSI Kitemark for Secure Digital Banking. As more of us bank digitally, it is crucial that the public can trust their online and mobile banking apps and having this certification helps gives customers peace of mind that their accounts are safe.”
“We hope that Barclays’ success will encourage other financial institutions to follow suit. Aspiring towards the achievement of internationally recognised standards helps improve cyber security, gives confidence to customers and supports the Government’s ambition to make the UK one of the safest places to do business online.”
Assistant Commissioner Angela McClaren, Cyber Lead for the National Police Chief’s Council, said: “I am delighted to see that Barclays has been the first bank to achieve the BSI Kitemark for Secure Digital Banking. This clearly shows a strong commitment to their customers security and data. Whilst Barclays Bank is the first to achieve this important milestone in online banking security, I know others are already looking to follow suit.”
To find out more about the BSI Kitemark for Secure Digital Banking please visit the BSI website.
To find out more about the work Barclays is doing in this area or cyber security more generally, visit the PDSC website https://www.policedsc.com/become-a-partner