New Banking Codes in the UK hold online banking customers responsible for possible losses if they do not have updated antivirus, antispyware and firewall applications installed on their systems.

Produced by the British Bankers’ Association (BBA), the code, though voluntary, is now followed by most banks in Britain after it has taken effect early last week. Subscribers are given until July to make sure bank policies are in line with the new policies, TheRegister reports.

While this policy is currently being adopted only in Britain, the banking industry ought to see that a wider implementation is called for, considering the increase of users doing their banking transactions on the Web. The policy includes a number of aspects of banking, including cards, PINs, personal information, protecting one’s account, and even provisions on how banks can help people undergoing financial difficulties. On online banking, it gives out the following advice apart from making sure clients’ security software is updated:

• Do not divulge PINs and passwords to anybody.
• Banks will never contact clients to ask them for their PINs and passwords.
• Email claiming to come from banks should be treated with extreme caution (if not to be totally disregarded).
• Access online banking sites by entering the URL at the address bar instead of following links from some other page or email.

The new codes are here.