European banks have rushed to acquire the more secure domain name “.bank”, after more than 4,000 registrations were made in the U.S. for the web address.
So far, over 500 European financial institutions have signed up to have this special domain, and the reason is “consumer protection,” according to the chief executive of domain name seller, CentralNic.
“The reason for the ‘.bank’ domain name is essentially that the millions of dollars that are lost every year, are through internet fraud,” Ben Crawford told CNBC.
