Ever-conscious of concerns surrounding Internet security, and in the wake of last month’s terrorist attacks, Bank of Internet, USA, was quick to emphasize the safety of Internet Banking.

"Security is a fundamental part of banking." said Gary Lewis Evans, President and CEO of Bank of Internet, "Banks have been in the business of looking after customer’s money for hundreds of years, and while it’s true that on-line banking is a relatively new concept, security and fraud prevention will always be a number one priority for both on-line and bricks and mortar banking."

Most on-line banks use the most powerfully advanced Internet security technology available to consumers today. Sophisticated encryption algorithms and firewalls ensure the security of websites, and the safety and confidentiality of customer information, all of which is monitored by the FDIC.

Bank of Internet employs a team of experts whose only responsibility is to monitor for hackers, and to make sure that security is protected. "A strong commitment to security management is essential," said Evans, "it would take billions of sequences and combinations for a hacker to decrypt account information, and our team would be able to spot and prevent that kind of activity immediately. We use state of the art levels of encryption to ensure that the information passed between our customers and the bank is secure."

"Since the September 11th attacks, security everywhere has increased, and banks have become even more conscientious about their systems. Corporate managers are more likely poised to spend extra in just a handful of areas such as Internet security and technology recovery systems, while maintaining a wait and see approach elsewhere."

Evans said that the ability of BofI’s customers to access their accounts, pay bills on-line, and get cash was uninterrupted immediately after the attacks, and during the too-short period of seeming normalcy of the past few weeks. "I think the past month has made us all realize the overwhelming importance of communicating on a basic level, but it is vital for Internet banks to give their customers peace of mind, and let them know that their money is safe, and their ability to make transactions uncompromised."