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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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Banks 'wasting millions' on two-factor authentication 2005-03-16
Scott, posted by Fred
It sounds like Bruce is saying that due diligence (such as hard tokens) is not worth the expense or effort simply because it will not keep out a determined intruder? Why do we bother putting fences around secured buildings - it will most certainly not stop a determined intruder, he will simply clim...

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