Do you bank online? Millions of people all over the world do so every day, confident that their account details - and their cash - are as secure as Fort Knox.

But is that confidence misplaced?

And I ask it as someone who, although a passionate advocate of the huge benefits of the internet, remains deeply suspicious of those who claim to have developed a failsafe defence against to what amounts as online robbery.

It's a crime which has been given various names.

Hacking, phishing, identity theft, online deception. At the end of the day it doesn't matter. A crime is a crime. And there are no lack of villains.

Out there, somewhere in what is loosely termed cyberspace, someone with more knowledge than we give them credit for is planning to make money out of a system, which by its very nature, still appears to be as leaky as a fishnet.

Over recent years there have been a number of well publicised security breaches. And the well has not yet run dry.

Publisher Reed Elsevier is the latest corporate 'victim'.

It has called in law enforcement authorities in the States to investigate if the identities - ie passwords and account details - of some 32,000 people have been lifted by hackers who 'somehow' managed to access its databases.

The Anglo-Dutch group said the possible theft came to light when after it processed the billing complaint of one of its customers at a subsidiary firm called Seisint.

Seisint stores and provides personal information to companies, journalists, police and US federal investigators. It hit the headlines last year with a database called Matrix, which collated information on potential terrorist suspects.

The information accessed included names, addresses, social security and drivers' licence numbers - but, no doubt to the relief of those concerned, not credit history, medical records or financial information.

Not too surprisingly the group, the force behind almost 3,000 internet websites and portals, has played down the impact of the security breach on its own financial performance.

And according to Reed, customers in the UK are not affected. Well, that's all right then, at least this time.

Unfortunately, the internet is global. It does not recognise national boundaries. Neither do the criminals, who are successfully using it to line their own pockets at the expense of trusting online customers.

And they learn new tricks every day - tricks designed to overcome advances in online security. Failsafe today may not be so failsafe tomorrow.

In the world of commercial property there is a well known saying - 'location, location and location'. It's value is easily understood.

Perhaps in the high tech sector there should be a similar train of thought - security, security and security. And more security.

And if that can be proved - if there are no more online security 'lapses' - even I might be tempted to put my most valuable of details online.

Given the nature of the beast, don't hold your breath.