If my credit card company can manage to shut down my credit card and not reinstate it until they talk to me because I make $300 worth of charges on vacation, it should be reasonable to expect a bank to provide that kind of anti fraud protection on commercial accounts. The difference is who is liable - if the banks were liable like they are with credit cards they'd certainly be much more diligent.
Banks, after all, pushed online banking with minimal client protections because it was cheaper than paying staff.
The risks may have been minimal when online banking rolled out, but the world has changed significantly in the last five years. The client is not secure, and it is borderline unreasonable to expect them all to be in this day and age. Pretty much any client machine will fall to a persistent targeted attack. Two factor authentication should be mandatory for electronic transfers outside of the institution.
Banks, after all, pushed online banking with minimal client protections because it was cheaper than paying staff.
The risks may have been minimal when online banking rolled out, but the world has changed significantly in the last five years. The client is not secure, and it is borderline unreasonable to expect them all to be in this day and age. Pretty much any client machine will fall to a persistent targeted attack. Two factor authentication should be mandatory for electronic transfers outside of the institution.