Re: The end of Phishing in sight?

[Chris Buechler <funsec () chrisbuechler com>]

Paul Schmehl wrote:

> --On Monday, October 17, 2005 19:06:13 +0000 "Fergie (Paul Ferguson)" 
> <fergdawg () netzero net> wrote:
>
> > In two-factor authentication, customers must confirm their identities 
> > not
> > only through something they know, like a PIN or password, but also with
> > something they physically have, like a hardware token with numeric 
> > access
> > codes that change every minute.
> OK, I'll bite.  Are the banks going to be forced to provide the 
> readers? Or is online banking going to become a thing of the past?


the banks aren't forced to provide anything to the customer, just must 
require two-factor authentication.  I'm sure whatever method the bank 
provides will have the associated hardware, any software, and any other 
requirements covered by the bank most of the time.  The demand for 
online banking combined with competition ensures that this will almost 
certainly be the norm. 

The official FIL is here: 
http://www.fdic.gov/news/news/financial/2005/fil10305.html

To Valdis's "if said rules go through", there is no "if" - once there's 
a FIL, it's a done deal.  The FDIC calls it "guidance", but that's 
misleading at best (they're mandates).  "Guidance" on how to avoid 
getting your doors shut by the FDIC, I guess.  ;) 

cheers,
-chris
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