Security

Citibank Hardware Tokens Defeated – but don’t blame the tokens

A well crafted and reasoned view on the ‘man in the middle attack’ on Citibank tokens, from Improving.  This provides good balance to my earlier post.

Improving New Account Opening: Citibank Hardware Tokens Defeated – but don’t blame the tokens – Solving complex business problems with financial services technology

Physical tokens are not dead. But as the Citibank example has shown, without providing additional layers of protection to users to help them avoid phishing, a well crafted, realtime scam can defeat even this two factor authentication.

3 thoughts on “Citibank Hardware Tokens Defeated – but don’t blame the tokens”

  2. Thanks Nishad … this presentation does a great job at highlighting attributes of traditional retailers, that Banks could learn from.

    One I noted in there was the mobile banker idea on a motor-bike in Sweden. They do that in Japan too; the banker in a suit, zips around on a scooter, and takes the bank to the customers house.

  3. Pingback: Two-factor authentication is not well understood « The Bankwatch

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