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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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There is no solution though 2005-03-15
Anonymous
The problem is that identity standards enforcement is easy to bypass.

For example, I could spoof an SSL website for a bank and even with an SSL security warning, probably 75% of people accessing the site would ignore the warning and continue anyway. How do you prevent that?

The average Jane...

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