Bank of America's SiteKey scheme for protecting online bank accounts

["Richard M. Smith" <rms () computerbytesman com>]

Hi,
 
What do folks think about Bank of America's new SiteKey system for
protecting online bank accounts:
Bank of America announces industry-leading security feature for its 13.2
million online banking customers to help prevent fraud and identity theft

http://www.bankofamerica.com/newsroom/press/press.cfm?PressID=press.20050526
.03.htm
 

Customers can sign up for the service, called SiteKeyT, for free. Customers
pick an image, write a brief phrase and select three challenge questions.
The customer and the bank can pass that information securely back and forth
to confirm each other's identity. 

Screen shots:
 
http://www.bankofamerica.com/newsroom/presskits/view.cfm?page=sitekeyscreen
 
Richard M. Smith
http://www.ComputerBytesMan.com
 

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