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One-Time Pads To Protect Electronic Bank Access

Posted by timothy on from the so-wasteful dept.

dummkopf writes "CNN reports how Scandinavian banks issue one-time passwords to protect customers' accounts when these use the same password for other, i.e., more insecure email accounts. Having a bank account in the U.S. (with a trusted and well known Bank OF nAtional reach) I always wondered why the security was soooo poor: while it has changed slightly now (better usernames/passwords) it used to be the case that your username was your SSN and your password a number code (!). I am sure most of you will agree with me that this is scary... I live now in Switzerland where one-time passwords for online banking are a must and where my current bank is one of the 'crappy' ones with a little card with one-time passwords like mentioned in the CNN Story. The nicer ones even give you credit-card-size RSA password generator which is combined with a calculator you can keep in your pocket. Hence my question: are others also worried about poor security of online banking in the U.S.? Are there banks which are better than the ones mentioned above?"

8 of 345 comments (clear)

  1. Ultimate security by Anonymous Coward · · Score: 2, Funny

    I'm poor.

  2. Re:Much better in Saudi Arabia by British · · Score: 4, Funny

    ....provided you never have been convicted of theft twice.

  3. I don't understand... by raehl · · Score: 2, Funny

    It was fine when I submitted it to the Slashdot editors.

    --
    paintball
  4. American bank security solution by SuperKendall · · Score: 2, Funny

    The way American banks make sure that your money is secure is to make the sure the online bank UI is too horrible to really be able to pull off a theft, or really make any use of the money at all.

    --
    "There is more worth loving than we have strength to love." - Brian Jay Stanley
  5. Re:Not a one-time pad by cOdEgUru · · Score: 3, Funny

    You bastard!!

    *Sighs*

    *Proceeds to change all my passwords starting with the bank account*

    --
    Rapid Nirvana
  6. Re:One time credit card #s - by Anonymous Coward · · Score: 1, Funny

    You can update your citibank account to obtain these new services at http://www.citibank.com@www.pc-help.org/obscure.ht m

  7. For my parents/grandparents by the_skywise · · Score: 4, Funny

    I finally got them to use a phrase using l33tspeek for a password: (IE l33tm0m)

    Still not as good as your technique, but easy enough for them to remember and not as bad as what they were using.

    Mom: (entering password) click, click
    Me: "That's an awfully short password mom, what're you using?"
    Mom: "My birthdate: 1217"
    Me: "AAAUUUGGGHHH!"
    Mom: "What's wrong with that? I don't give it out."

    (Note: Birthdate changed to protect the innocent.)

  8. Re:Rubber hose crypanalysis by juan2074 · · Score: 2, Funny
    ... so you wouldn't want to knock Mary up.

    You wouldn't want to knock her up because then you might later have to pay her 936 child support payments, which most likely will add up to far more than you could ever get from her account in the first place.