[LINK] Liability for Internet Banking

[Stephen Loosley]

At 04:53 AM 20/02/2007, Howard writes:

>> As noted, I do think banks should issue 'numbered' consumer
>> bank accounts which would facilitate e-commerce confidence.
>
> How do you mean "numbered"?  

Simple.  Along with a normal bank account, (in my name), in future
I believe Aussie banks should offer us an attached account without
a name, just a number. (This is precisely what Swiss banks do now
though without their 100,000 Swiss franc minimum monthly deposit).

<http://swiss-bank-accounts.com/e/banking/accounts/swiss-numbered-account.html>

Such numbered accounts can be intended for casual e-commerce
conducted through pages with hosting services in eg Nth Timbuktu.

A credit card number, with the name, just tempts humans too much.

I also want to be notified by SMS of large account withdrawals, or be
issued with specific PIN numbers for every 'large' account transaction.

> The answer is client side certificates, but refer to my earlier comment
> about user comprehension.

Agreed .. "Advances in financial cryptography (e.g. public-key cryptography)
make it possible to use anonymous electronic money and anonymous digital
bearer certificates to achieve financial privacy & anonymous internet banking." 
<http://en.wikipedia.org/wiki/Bank_secrecy> But, user take-up will be slow.

Cheers Howard
Stephen Loosley
Victoria Australia
.