Banks 'wasting millions' on two-factor authentication

Banks 'wasting millions' on two-factor authentication
John Leyden, The Register 2005-03-15

Banks are spending millions on two-factor authentication for their customers but the approach no longer provides adequate protection against fraud or identity theft, according to Bruce Schneier, the encryption guru.

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I'd hardly call even a temporary drop in fraud "wasting millions" 2005-03-15
Bruce K. Marshall (3 replies)

I'd hardly call even a temporary drop in fraud "wasting millions" 2005-03-15
bwatson_at_nettracers.com

SSL 2005-03-16
Rory Alsop

I'd hardly call even a temporary drop in fraud "wasting millions" 2005-03-16
Anonymous

Banks 'wasting millions' on two-factor authentication 2005-03-15
Anonymous

Banks 'wasting millions' on two-factor authentication 2005-03-15
Comic Book Guy

So...two-factor is a waste of money because it does not defend against attack vectors it was not intended to defend against? What is the solution oh Great Bruce?should our banks pay for the under-educated\under-protected users to secure their home PCs against malware?

Best Quote Ever ?Two-factor authentication will force criminals to modify their tactics, that's all.?

What counter measure hasn?t forced criminals to modify their tactics? Unfortunately, that is the current state of the info sec community.

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Link to this comment: http://www.securityfocus.com/comments/articles/10694/30899#30899

Banks 'wasting millions' on two-factor authentication 2005-03-15
Anonymous

Banks 'wasting millions' on two-factor authentication 2005-03-15
Lavid Detterman

Banks 'wasting millions' on two-factor authentication 2005-03-15
Anonymous

Don't we all have one of these guys at work? 2005-03-15
Anonymous

There is no solution though 2005-03-15
Anonymous

Banks 'wasting millions' on two-factor authentication 2005-03-15
Anonymous

Banks 'wasting millions' on two-factor authentication 2005-03-16
Anonymous

Banks 'wasting millions' on two-factor authentication 2005-03-16
Marcus Augustus

Banks 'wasting millions' on two-factor authentication 2005-03-16
LiquidBrain

Banks 'wasting millions' on two-factor authentication 2005-03-16
Anonymos

Banks 'wasting millions' on two-factor authentication 2005-03-16
Anonymous

so called "expert" 2005-03-16
Anonymous (1 replies)