Next-gen banking security still not safe

Wednesday, 26 April 2006, 4:54 PM EST

Two-factor authentication, where banks add one-time passwords and payment confirmation codes to the usual password-based security measures, could still be overcome by phishing scams, a security vendor at Infosec 2006 has warned.

F-Secure said that advanced phishing techniques could be used to breach the system by setting up a fake banking site, contacting the real site and waiting for the password, then getting the user to type in the one-time password that is supposed to protect them.

At vnunet.

[ Read more ]




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