Lloyds TSB has installed software to prevent fraud by members of staff in a move aimed at improving security for its retail banking customers.
The bank has chosen software from transactional risk management firm Actimize to tackle potential employee fraud, which has been dubbed "one of the most serious threats" by the Financial Services Authority. The FSA has pointed to risks from staff arising from collusion, coercion or infiltration by outsiders into the staff as risks.
The Actimize software will run complex analytics against several Lloyds TSB data sources to pick up expected or unexpected patterns.
Bruno Piers de Raveschoot, Lloyds TSB's head of group financial crime, said: "We pride ourselves on our ability to protect our customers from all types of threats, no matter where they come from. The Actimize Employee Fraud solution reinforces the bank's investment in securing both customer and bank assets."
Lloyds TSB was the only major UK high street bank not to be criticised by the Information Commissioner after a probe found that 11 financial institutions had put customers at risk by dumping data in outside rubbish bins.