Fergie's Tech Blog

Bank Of America Fights Phishing With New Authentication

Gregg Keizer writes for TechWeb News:

Bank of America, plagued by phishers targeting its 13.2 million online banking customers, on Thursday debuted a new two-factor, two-way authentication scheme in an attempt to deflect identity theft and reduce fraud.

Dubbed SiteKey, the free service allows customers to pick an image, write a brief phrase, and select three challenge questions. The information is then passed back and forth between the customer and Bank of America to confirm each other's identity. SiteKey will debut in Tennessee, said the Charlotte, N.C.-based bank, and roll out nationwide by the end of the year.

posted by Fergie @ 5/26/2005 10:50:00 AM