Citi claims to have no online fraud cases within the latest 12 months

According to the statement of Roy Gori, CEO of Citi Australia, they have minimized online fraud to zero level. Such exciting results were achieved owing to two-factor security system. To enter their accounts clients have to enter a password first and then to answer a predetermined security question such as their favourite colour or street address.

Gori says that during one year none of bank’s 200, 000 Internet clients has fallen a victim to online scammers. It was also said that very soon this technology will be offered to the mobile banking customers of bank. 

The executive said that Citi aims to be the smartest bank so the fraudsters go after the dumbest ones. 

Also 6 weeks ago Citi has launched a trial voice biometrics for better security. As per Roy Gori voice recognition was a way to reduce the cumbersome process of identification Citibank currently has in place.