advice Why the new TLD .bank can help increase a Banks security

[News]

There are many factors to consider when switching to a new top level domain. This includes financial institutions who are transitioning to the .BANK TLD, and for good reason. Banks have been taking advantage of the popular .COM TLD, as most commercial entities have since 1985. With the verified .BANK domain, banks receive a more secure online banking solution, trusted communication, and heightened credibility. While there are many considerations for a bank to make the switch, the value of online security for banks is undeniable.

With the .BANK tied to emails and other customer communication, you can expect less phishing scams. Since anyone can purchase a .COM domain, banks who still use the common TLD will experience issues with imposter domains. For example, the legitimate bankofamerica.com allows scammers to create domains under thebankofamerica.com or banksofamerica.com. This means there is more opportunity for a customer to mistakenly go to the wrong web address and give their personal information to a scammer, or for a well disguised email encouraging a customer to fall for a phishing scam to be successful. The exclusivity of the .BANK means customers will learn to expect the bank TLD to be associated with their bank’s website and communication, weeding out the fraudulent domains.

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[MadAboutDomains]

I disagree that it solves any of these problems. Because the people that know nothing about whether they're visiting or are emailing the correct domain are the same people that know nothing about .bank.

 

[jmcc]

Good in theory. Not so good in practice because banks have spent lots of money promoting their own brand domain domain names and websites.

Regards...jmcc

 

[tonyk2000]

While the .bank is technically new (being nGTLD), it is not new for 2020.

As per https://icannwiki.org/.bank

Registrations: 2,467
Parked Domains: 532
Parked Domain %: 21.56 %
Delegation: 09 January 2015
General Availability: 24 June 2015

Above mentioned encirca registrar is offering it during the last 5 years (without a great success as the numbers show... it is very expensive though, so the .bank registry should be profitable):

https://web.archive.org/web/2015102...ws/blog/2015/06/19/bank-launches-with-a-bang/

 

[tonyk2000]

and, if a bank is operating like this, no expensive ngtld will make it more secure... :

Many banks are on this stage of development. Many domain registrars (!) are on this stage of development. It is unfortunate...