Extra authentication like this is coming whether we like it or not.

Some european banks provide a little LCD display code generator for your keyring, or disposable one-use codes printed on paper for use with online banking logins. The rational is that the bank knows what the code generator is going to generate, or what is printed on the paper. Then someone can steal your name and password and account number by a variety of means, but still won't have access to the account without the code generator or list of disposable codes.

This hasn't caught on here yet because the $30 or so for the keyring code generator isn't yet less expensive than the costs of phishing or fraud. Meanwhile we'll either have to deal with weak security (which, as a computer administrator, I don't like), or wacky schemes like people describe here to stay one step ahead of the bad guys instead of outwit them good for a few bucks extra. At some point, fraud and poor customer experiences will drive banks to find an easy system with dual authentication.

• Anyone us Bank of America online banking?, NickR, Mon, 19 Dec 2005 14:20:18
  • BofA's motto is "The customer will adapt.", Geoff, Wed, 21 Dec 2005 10:20:36
  • Re: Anyone us Bank of America online banking?, jp, Tue, 20 Dec 2005 07:08:00 <-- Viewing This Message
    • Are the little tokens that cheap?, Geoff, Wed, 21 Dec 2005 10:23:44
  • You don't have to use the Sitekey, dcjayhawk, Tue, 20 Dec 2005 06:09:50
    • Re: You don't have to use the Sitekey, AeroDave, Tue, 20 Dec 2005 06:20:24
      • Same thing - starts out with - "you should try SiteKey", NickR, Tue, 20 Dec 2005 06:51:26
        • Strange!, dcjayhawk, Tue, 20 Dec 2005 16:32:00
  • Does it work with Quicken Downloads ?, ChipJ, Tue, 20 Dec 2005 05:30:14
  • Re: Anyone us Bank of America online banking?, isobel, Tue, 20 Dec 2005 05:16:26
  • Re: Anyone us Bank of America online banking?, Justin VanAbrahams , Mon, 19 Dec 2005 21:49:08
  • I didn't know the login method changed.., yaofeng, Mon, 19 Dec 2005 18:28:19
  • Absolutely hate it!!!, turrbo , Mon, 19 Dec 2005 15:37:16
  • Re: I do..., AeroDave, Mon, 19 Dec 2005 14:55:43
  • Can you log in through Yodlee?, steve, Mon, 19 Dec 2005 14:45:36
    • Yes., dmz, Mon, 19 Dec 2005 19:09:27
  • Hah! Try Citizens. They changed their, Noel, Mon, 19 Dec 2005 14:43:24
  • Re: Anyone us Bank of America online banking?, dboone, Mon, 19 Dec 2005 14:33:57
  • yea.... total PITA!!!, GM, Mon, 19 Dec 2005 14:32:43
    • Re: yea...., Timmins, Mon, 19 Dec 2005 19:29:56

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