THE rapidly expanding ranks of people banking online has raised questions over whether consumers can deal with the growing threat from cyber pirates.

In the past year, the number of online bankers in Australia has swelled by 1.3 million to 8.2 million, according to a Commonwealth Bank survey, accounting for 52 per cent of the population. Commonwealth Bank of Australia acting head of retail banking Ross McEwan said ease of access to personal computers at work and at home meant more people were now doing more online, including their banking.

“This increase in online banking goes across the board, with more than 1.3 million customers joining the online banking revolution in the last year alone,” Mr McEwan said.

Security has become a major issue, with the Australian Competition and Consumer Commission (ACCC) saying the threat of fraud through attacks against online accounts is increasing.

In a submission to a current review of the Electronic Funds Transfer (EFT) Code of Conduct, which sets out the responsibilities of banks and their online customers, the ACCC argued that customers who used electronic banking, such as internet banking, faced severe threats from tech-savvy criminals. “The ACCC considers that widespread use of electronic facilities for banking and financial transactions will see continued growth in the number and complexity of related fraud which will target such transactions,” it said.

Attacks from cyber criminals can take many forms. Two of the biggest threats are phishing used to gain personal information for the purpose of identity theft and malware, software designed to infiltrate or harm a computer system. The Consumer’s Telecommunications Network believes many consumers are not adequately prepared to deal with the threat of such online attacks.

In a 2006 report, it said that although awareness of e-security threats might be reasonably high, consumers lacked understanding of how to protect themselves.

AAP

(11-09) 11:14 PST TOKYO, Japan (AP) —

Japan’s antitrust officials searched a subsidiary of Matsushita Electric Industrial Co. for evidence that it participated in an international scheme to fix prices for cathode-ray tubes, an official and media reports said Friday.

Japan’s Fair Trade Commission conducted an on-sight inspection of Matsushita subsidiary MT Picture Display Co. Thursday, said Akira Kadota, a spokesman for Matsushita, the Osaka-based maker of Panasonic-brand products.

Kadota said he could not comment why the subsidiary was searched.

Demand for the tubes Д used in traditional televisions Д is shrinking amid increasing sales of flat TVs. But global sales remain strong due to demand in developing countries and are estimated at $4.43 billion, according to media reports.

Japanese trade officials were not immediately available for comment.

MT Picture Display is suspected of fixing prices for CRTs with other manufacturers in South Korea, Taiwan and Hong Kong, Japanese business daily Nikkei reported Friday. Antitrust officials in Japan, South Korea, the United States and the European Union have began investigations, Nikkei and other papers reported.

Companies including South Korea’s Samsung SDI are suspected of forming a cartel around 2005 to keep the price of CRTs from falling, Nikkei reported, citing unnamed officials.

Matsushita’s stock fell 2 percent to 2,235 yen in morning trading on the Tokyo Stock Exchange Friday.

(12-03) 11:44 PST LOS ANGELES, (AP) —

Kids who earn virtual cash in the popular online world “Club Penguin” can give some of it to charity as part of a program announced Monday by the Web site.

“It’s showing the kids they can truly make a difference,” said Lane Merrifield, a co-founder of Club Penguin, which is based in British Columbia and was purchased last summer by The Walt Disney Co.

In the Club Penguin world, kids win gold coins by playing games such as sled racing and, with a paid membership, buy virtual items like furniture and clothing.

Starting Dec. 14 and running through Dec. 24, kids can choose to donate their virtual money to support the environment, children’s health or children’s education.

The company will then split $1 million in real dollars among three charities Д the World Wildlife Fund, the Elizabeth Glaser Pediatric AIDS Foundation and Free The Children.

The Canadian Web site donated a little more than $30 million to charity after Disney agreed to pay $350 million for it. The sellers could get another $350 million if certain profit goals are reached.