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Smile, the Co-operative Bank's online banking operation, met all the criteria laid down in BSI's BS7799 standard for information security management -- the transmission of private and financial details across the Internet.
Consumer confidence in online banking has been severely bruised recently, with the news of serious security blunders from Egg among others, hindering the takeoff of e-commerce in the UK. If the BSI kitemark becomes widely adopted it could play an important role in allaying consumers fears over online security and boost e-commerce.
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