[LINK] PayPal to combat phishing with key fobs
Adam Todd
link at todd.inoz.com
Sun Jan 14 22:11:58 AEDT 2007
At 01:07 PM 14/01/2007, Rick Welykochy wrote:
>http://arstechnica.com/news.ars/post/20070112-8608.html
>
>"In an effort to protect users from fraud and phishing schemes,
> eBay subsidiary PayPal is preparing to offer secure key fobs.
> The devices, which display a six-digit code that changes every
> 30 seconds, will be made available free to all PayPal business
> users, and will cost $5 for all personal PayPal account users.
> Those who opt in on the key fob will have to enter the six-digit
> code when logging in to PayPal."
>
>Some food for thought for banks.
>
>The weakness in the PayPal idea is that the fob is opt-in. The very
>people most likely to fall victim to phishing scams are likely not
>to opt-in ... or is that a cynical syllogism?
I think people will opt in. NAB reports a very high uptake on the SMS
registration and pin concept. This seems cheaper to me, considering you
can send an SMS for 3 cents :) (Yeah I know, but banks like to charge!)
But then in my case, we don't have a problem with paypal or banking online.
I don't enter data into web sites I'm redirected to!
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