The UK’s Financial Services Authority (FSA) has warned banks that they must do more to help consumers to deal with online banking fraud, warning that consumer confidence in internet banking is currently very fragile. According to the regulator’s Financial Risk Outlook 2006, to be published on Wednesday, half of active internet users are ‘extremely’ or ‘very’ concerned about the potential fraud risk of making an online transaction. A survey carried out for the FSA by NMG Financial Services Consulting/IPSOS, shows that consumers who conduct their banking online are taking steps to protect themselves against fraud, by installing security software on their PC, but over a quarter do not know when they last updated their software or update it infrequently.