This makes the point, that security safeguards need to identify not just the user, but also the machine logging in to the network.
More than 8 out of every 10 computer attacks against businesses could be stopped if enterprises checked the identity of not only the user, but also the machine logging onto its network, a report released Monday claimed.
Source: Most Damaging Attacks Rely On Stolen Log-Ins – News by InformationWeek
This makes sense. Simply authenticating customers with user id and password, even if supported by a smart card and token is not enough. That merely confirms the smart card exists. But there are a Additional controls are required to secure against man in the middle attacks, and other approaches that we don’t know about yet.
The notion that we tie ourselves exclusively to one solution because its so strong (smart cards) is a fallacy. We need layers of security in order to deal with the creative criminals.
tags: security
Bankwatch 
Layered security is an illusion. Every layer adds administration complexity and offers additional points of attack. Smartcards can provide end to end security provided the system is properly designed and the user does not give his card and his card password. Unfortunately most of the smartcard system are not well designed and do not provide end to end security.