Share your insights or perspective on the financial matter presented in the input.

How does a online only bank protect itself against fraud? 
I don't see why an online-only bank would need to do anything more against fraud than a bank that also has brick-and-mortars. In the contrary, they would need less (physical) security, as they don't have to protect cash, lock boxes, and other physical assets. All banks nowadays have an online business, so they all have the same online fraud risks, and they all need the same level of protection.