Internet needs safe TLD, says F-Secure

F-Secure says that Icann should create a secure top level domain for the banking industry

Internet oversight body Icann should set up a new, secure, top level domain (TLD) for the banking industry, to boost the security of online transactions and reduce the incidence of banking fraud over the internet, according to web security vendor F-Secure.

Mikko Hyponnen, chief research officer for the Finnish firm, explained that if a new domain was created and locked down so that only registered and authentic banks could join, it would make it easier for security providers to filter fake sites more efficiently, and give customers more confidence in their banking brands.

"The domain .museum is a secure TLD for example – you can only get one if you are a museum - so why not with banks?" Hyponnen said. "It would have to cost more money, to put off the criminals from registering their own fake banks, but would mean banks could put more services online."

Lesley Cowley, chief executive of .uk registry Nominet, explained that the organisation is likely to discuss the issue at an upcoming meeting of its Policy Advisory Body on phishing.

"In the meantime, we strongly feel that end-user education is the key," Cowley added.