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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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I'd hardly call even a temporary drop in fraud "wasting millions" 2005-03-15
bwatson_at_nettracers.com
I disagree with a previous reply that there are solutions to MITM attacks. There are not!

Joe User has no idea how to authenticate the site that he is connecting to. Joe Geek does, and can use the available tools, but until you can have a computer independent method to authenticate the site t...

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