A bank spokesperson said there has been no submissions or any support for a mandate to make users liable.

"We have a policy to protect our customers' funds by providing the best (updated) security," he said.

Adding to the furore, an IT security provider Symbiotic Technologies Pty Ltd.'s TrustDefender issued a press release on the back of the incorrect reports.

Not realizing the claims were inaccurate, the vendor went ahead and quoted the media report verbatim in a bid to promote its own products.

There is nothing new about IT security vendors relying on hype to push product, FUD (fear, uncertainty and doubt) has always been good for sales figures.