Interesting, if one goes to the site of the Banking and Financial Services Ombudsman there is almost nothing immediately obvious on internet issues. The case studies listed as a guide to disputes do not include internet fraud and disputes over it. There are examples of unauthorised credit card transactions and disputes over ATM withdrawals but that's the closest it comes.

A site seach for "internet banking" just brings up a series of basic advice statements such as one would receive from any bank. There is nothing regarding rights and responsibilities of banks towards consumers.

The ombudsman's legal status is not clear, but he appears to be more an outgrowth of bank self-regulation than government regulation. In the terms of reference section it is noted that the ombudsman can be overruled by any staturory ombudsman, so we can take it he isn't.

On another tack it could be the banks are reluctant to say much for another, less venal, reason than Charles suggests. Because if it was revealed they would settle most claims of internet fraud this would be another incentive for small time attempts to defraud them by claiming one didn't know one had been compromised. Then again, maybe that's wishful thinking on my part re motives of banks.

Basically it would interesting to know how many disputes a year go to the banking ombudsman over internet banking. The breakdown I got from the site referred only to 22.5% of disputes in 2004 being about "deposit accounts". The annual report for 2004 does note increased interest in the sector by ASIC, hopefully internet banking would be part of this. Someone else who has looked, or has the time to look, might know something about what's on ASIC's agenda. Or it could make a useful story... Something for the AFR perhaps, are you interested Charles or should I have a go?

teach me to hack banks thank you