Banks are stepping up their efforts to prevent fraud. The question is: Will you see any benefit? According to a new survey by Gartner, 60% of banks are planning to spend more on fraud prevention and customer authentication over the rest of this year and next. Fully 20% said they expect to spend “significantly more.”

But they’re aren’t doing it just to protect their own pockets. Most banks cited the need to improve customer confidence as a key reason for the increased vigilance.

That bodes well for Accounting pros: Not only should you have safer accounts and more secure transactions, but you’ll likely see better service in terms of increased information access, speedier responses to queries, etc.

Tags: Banking, Fraud prevention