Banks will Adopt Two factor authentication
Federal regulators will soon require two factor authentication for bank web sites according a letter to banks last week.
User names and passwords are just to easy to exploit by criminals.
Security keyrings are being distributed to 30,000 online customers of Lloyds TSB Bank. to provide two-factor authentication.
To log into their accounts, customers must provide a new six digit number from their keyrings. The numbers change every 30 seconds. Each keyring has a unique identity and the customer must provide a password as well.
Two factor authentication
Posted by Jill Fallon on October 21, 2005 at 6:02 PM | Permalink | TrackBack
Have developed a prototype for a unique approach to multi-channel, multi-factor authentication via web.
Have just begun to seek funding to make it happen.
Interested in any participants who are security experts or who work with or work in banks or other financial institutions.
Posted by: Mike Dunne at October 28, 2005 3:57 PM
