SC Magazine: Changes needed in the world of online banking

Dan Kaplan writes in the The SC Magazine Newsteam Blog about the need for additional security for online banking.

“The security of online banking is being tested like it’s never been tested before. A number of recent incidents have made the news in which mostly small businesses have lost tens of thousands of dollars to overseas cybercrooks.”

Dan suggest out-of-band solutions could offer some protection.

“They may want to consider out-of-band authentication — meaning get that second factor off the computer that the hijacker already has compromised. Technologies such as those offered by PhoneFactor, which offers a phone-based tokenless authentication system, may answer the call for additional security, no pun intended.”

Read the full article at: http://newsteam.scmagazineblogs.com/2009/09/29/changes-needed-in-the-world-of-online-banking/