Banking on What You Have and What You Know

Posted by John B. Frank Sunday, June 28, 2009

Banks Have Serious Phishing "Issues" Need 2FA

Seeking Alpha - ‎1 hour ago‎

Banks have a "serious issue" with phishing attacks aimed at their online banking customers. It's time they take a long and serious look at a simple solution...2FA (two-factor authentication)

The nature of this beast known as "phishing" is to lure these onlinebanking folks, with a sophisticated and genuine looking trap whichincludes genuine looking emails which provide links to genuine lookingsites. (a new "type" of bait and switch)

Once there, users are simply instructed to do what they've been programmed to do since day one with online banking. They are told to "type" in their username and password to log-in. Problem is, once they "type" in their "username | password" they provide full access to their accounts to the phisheries.

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