TSB and Co-operative Bank urged to 'address it' and say 'it's top priority'

TSB and the Co-operative Bank have been told to "urgently" address security concerns as scammers use "loopholes" to target customers. The two banks scored the lowest out of 13 banks for their mobile app and online security in a Which? study.

TSB scored a 67% score and The Co-op got 61 per cent, with four stars out of five for the safety of its logins, but security best practice being 4/5 for TSB. The banks got two and three stars for account management, while the Co-op got three stars for its navigation and logout.

Which? rated banks on the information they require for you to access accounts and how easy it is to recover usernames or passwords. It checked whether they allow you to choose insecure passwords or if they prevent the use of password managers (these help you keep track of multiple passwords securely and avoid bad practices such as using weak/common passwords).

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Banks were penalised if they support any outdated versions of 'Transport Layer Security (TLS)' and Which? counted the number of ‘risky permissions’ users were asked to agree to, too. Which? marked them down if these messages included a phone number or web link, as scammers often replicate texts and emails to trick you into calling them or entering your details on a fake website.

If banks never included numbers or links in communications, it would make scam attempts easier to spot. TSB told Which? that the matter was under review and a fix will be “considered in the future”. TSB told Which?: “We have removed phone numbers from the vast majority of SMS alerts with this alert being the final in plan for updating to remove the phone number.”

TSB said: “We continue to strengthen the security of our internet and mobile banking while delivering a positive and convenient user experience for customers." The high street bank went on and said: “That’s reflected in our high app store ratings.”

The Co-operative Bank said: “The security of our customers’ accounts is always our top priority. Customers can be assured we have robust security measures in place to protect them and their money. We are constantly reviewing and enhancing our security controls and we will be delivering a number of further improvements in 2024 to give our customers peace of mind that they can continue to bank safely and securely with us.”