New Internet Banking Security Method

Discussion in 'privacy technology' started by Vikorr, Nov 22, 2006.

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  1. Vikorr

    Vikorr Registered Member

    Joined:
    May 1, 2005
    Posts:
    662
    Hi All

    Not entirely sure this is 'new' technology, but thought it would be interesting for those that haven't heard of it.

    My Bank has just offered me (for $20 anyway) an electronic 'Key' (a piece of electronic hardware) for my Internet Banking account. It has a code that changes every 60 seconds, and you must enter both your (Login + normal password) and the current electronic Key code to access your Internet Banking.

    If you lose the Key, you of course have to go through a process to obtain a new one...but for the security it provides - it's worth the 'possible' inconvenience 'if' I lose it. I've ordered one :)

    If you like the idea, I'd be bugging your bank to get something similar.
     
  2. MikeNash

    MikeNash Security Expert

    Joined:
    Jun 9, 2005
    Posts:
    1,654
    Location:
    Sydney, Australia
    We've had a few for the last year for our business account. $5 per month for business users, and our bank made it mandatory for daily Xfers over $5,000


    Mike
     
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