Hundreds of Banks Apply for .bank Domain
As part of their defences against cyber crime, over 500 European banks have applied for the .bank domain name.
Only banks can apply for the restricted domain names, allowing customers know they are dealing with a real bank.
As part of the application process the banks now have to face a 31-step process which focuses on security.
The domain name group CentralNic said: "The speed of satisfying the security requirements depends on how quickly the bank can respond to enquiries and requests for information."
In a bid to add extra security for its customers Barclays Bank announced it was moving away from using .com and .co.uk domain names in May this year. The bank is switching from Barclays.com and Barclaycard.com to .barclays and .barclaycard. The firm feels this will only enhance security as only Barclays and Barclaycard will be able to set up websites using these addresses.
CEO of CentralNic, Ben Crawford, said the internet is at the root of the problem.
He added: "Restructuring the aspects that allow cyber crime in banking is a priority and tackling the domain element will significantly reduce the chances of online intellectual property theft. Now, quite simply, the only way to own a .bank address is to be a bank."
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