You are currently browsing the Electronic Payment Security weblog archives for the day February 7, 2007.
- February 7, 2007: New Techniques for Guarding Financial Data
- February 6, 2007: Increased Scrutiny From Card Associations in 2007
- January 28, 2007: The State of PCI Compliance 2007
- January 23, 2007: Background Checks on IT Personnel
- January 5, 2007: 100 Million Notifications of Data Breaches in US
- December 17, 2006: Inside Jobs: The Risk of Data Breach From Insider Threats
- December 12, 2006: Card Associations Step Up PCI Enforcement
- December 1, 2006: CompTIA Survey Emphasizes Importance of Security Training
- December 1, 2006: CompTIA Survey Emphasizes Importance of Security Training
- November 16, 2006: Average data breach costs $5 million
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Archive for February 7, 2007
New Techniques for Guarding Financial Data
February 7, 2007 by tim.
In the 2/6/07 edition of E-Commerce Times, Andrew Rolfe has published an article that discusses ways to use out-of-band authentication to secure online transactions. He defines this as “the use of two separate networks working simultaneously to authenticate a user.” The practice of two-factor authentication has certainly received much press, but out-of-band authentication is a relatively new concept.
Mr. Rolfe discusses the increased sophistication of criminals, particularly through the proliferation of malware and phishing. He describes how out-of-band authentication for activities such as online financial transactions can be used to thwart criminal activities. In particular, he describes how some financial institutions now use the telephone network as out-of-band authentication for certain types of transactions such as balance transfers. The article is a good read if you want to stay up on the latest ideas in this industry.
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