The Bank of England and Royal Exchange. Image: Shutterstock
Customers could be cut off from online banking services if they fail to upgrade their internet browser, according to proposals being discussed by the UK government, intelligence agency GCHQ, and banks.The incentive behind all of this is that out of date software gives hackers a greater chance of compromising systems, and sometimes leads to bank accounts being targeted.Any changes would take several years to implement, and come in several different stages, the Financial Times reports, relying on anonymous banking sources. The Bank of England did not respond to a request for comment from Motherboard.At first, customers detected using an out of date browser or ineffective anti-virus would be prompted to upgrade. Then, they might be cut off from certain internet banking services. Eventually, internet service providers may get involved, barring customers altogether if they are the target of malware. Or when fraud does occur because of the customer's poor security, banks could refuse to compensate any losses, the Financial Times continues.This idea that customers hold more responsibility for not falling victim to online fraud echoes comments made by the Metropolitan Police commissioner earlier in March."The system is not incentivising you to protect yourself. If someone said to you: 'If you've not updated your software I will give you half back,' you would do it," Sir Bernard Hogan-Howe said.