Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Access Control
LeftNav
Alarms
LeftNav
Biometrics
LeftNav
Detection
LeftNav
Deutsche Zone (German Zone)
LeftNav
Education, Training and Professional Services
LeftNav
Government Programmes
LeftNav
Guarding, Equipment and Enforcement
LeftNav
Industrial Computing Security
LeftNav
IT Security
LeftNav
Physical Security
LeftNav
Surveillance
LeftNav
View All
Other Carouselweb publications
Carousel Web
Defense File
New Materials
Pro Health Zone
Pro Manufacturing Zone
Pro Security Zone
Web Lec
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
 
News

Banks could still improve system for combating online fraud

Gridsure : 08 October, 2009  (Technical Article)
Simplification of signing in using alternatives to fixed passwords could provide online banking customers with greater security without additional inconvenience
Following today's announcement on the latest fraud figures from Financial Fraud UK, Stephen Howes of GrIDsure, comments on the innovative alternative to PINs and passwords.

"Although the fraud figures show signs of promise in certain areas", he said, "the levels of fraud across the UK are still shockingly high. In particular, they show that UK bank's measures to crack down on online banking fraud have been unsuccessful, which will be like rubbing salt into the wounds of consumers who have to jump through hoops to login to their account online. Financial Fraud Action UK attribute the reduction in online shopping fraud to the enhanced use of security by Mastercard and Visa, but all these measures still rely on a fixed password, which is still inherently unsafe and leaves users wide open to fraudsters, especially phishers.

"The industry needs to adopt a 'one time password' model across the board and alternatives such as software-based authentication techniques have been available for over two years. Adopting this technology can offer security that is stronger than current methods, yet is easier for customers to use and cheaper for banks to implement."


Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   © 2012 ProSecurityZone.com
Netgains Logo