Bank Domain Names Open to Misuse, Fraud, European Regulator Says
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Plans to grant banks the use of new domain names such as .fin and .bank will make it harder for regulators to stop fraud, Europe’s top banking authority told the group in charge of the Internet’s address system.
The domain names “have a great potential” for “misuse by unscrupulous individuals,” Andrea Enria, chairman of the European Banking Authority, said in a letter to Barbara Clay, vice-president for communications at the Internet Corporation for Assigned Names and Numbers. The plans for the names should be dropped, Enria said in the letter on the agency’s website.