Bank's new security issues

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Re: Bank's new security issues

Postby gepisar » Fri Nov 13, 2009 1:09 pm

nameless wrote:Trouble is, for my security measures, I have just transferred 'money' into this account from another account. The very next day they came up with their 'security' measures. If I don't agree to their terms, I may not be able to access my 'money'. I do all my banking on line. I also think it is wrong for them not to give an email address. They want you to phone if you are an existing customer. Look's like it will be snail mail, but I know from experience that if they don't want to respond, they don't.

Can you write a cheque still? Go on, buy some gold, you know you want to!!! :wink:
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Re: Bank's new security issues

Postby nameless » Fri Nov 13, 2009 1:54 pm

Can you write a cheque still?

Yes, good point.

Go on, buy some gold, you know you want to!!!

It's only egold, though, isn't it? Not real gold. Our wonderful PM gave what was left of it away, didn't he? Even buying egold is likely to be fraught with problems - ID and all that.
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Re: Bank's new security issues

Postby Farmer » Fri Nov 13, 2009 2:56 pm

Well I think its more sinister. Even google now asks for a mobile number when setting up a new email account. It is a way to force you to own a mobile phone which they can use to track you. Just like in the past the banks were used to force everyone to have an account or they won't get paid, they are now being used to force you to have a mobile phone.

In Germany the banks send you a list of numbers known as TAN numbers. When you do online banking you need to use one of these numbers to verify it is you after a transaction. The number is then never used again. This is a much more secure system than it has ever been in the UK. In Germany, there is no argument that someone else can use your account online.

In Holland, the bank I was with gave you a little device which you pushed your bank card or debit card into which then generated a code that you had to enter into a text field on the screen in the same way as in Germany.

The HSBC bank over here already use a system where you have a second 6 or 7 digit PIN when using their credit card to verify its you placing an order over the internet.

Its all a load of crap to get you to have a mobile and get your number.
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Re: Bank's new security issues

Postby gepisar » Fri Nov 13, 2009 3:12 pm

"Its all a load of crap to get you to have a mobile and get your number."


True. There are devices known as SecureID, which are credit card sized number generators that create random numbers in sync with the banks computer. At any given minute, the secure ID fob will display a number that you type into the online form to verify you (at least have the fob and know your account number)

There are loads of other ways: public key encryption would work: The bank gives you a public key for you PC which encrypts data from your PC. This could be a mobilised public key (on a cheap USB device) and would encrypt everything to the banks computers. The bank would then decode the message using your public key against their private key and it only makes sense if the two match. For a fuller description of public/private key encryption see here
http://en.wikipedia.org/wiki/Public-key_cryptography#Description

Other exciting methods use quantums of light. This provides a one way encryption, that if intercepted is destroyed.

I think it is just a ploy to get your mobile - and the address behind it, and the ability therefore to get the physical whereabouts when required.

In Holland, the bank I was with gave you a little device which you pushed your bank card or debit card into which then generated a code that you had to enter into a text field on the screen in the same way as in Germany.

I think Natwest are rolling this out in the UK. People I know have these...
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Re: Bank's new security issues

Postby Zeb » Thu Nov 19, 2009 10:41 am

What I can't understand is why use internet banking?

I'd much prefer to walk into a bank and do my business with them over the counter than online where digital signals are being transmitted over an open network for anyone to grab.

However, I don't have a bank account and consider myself lucky on that one.

When I've been asked for a contact number on online forms I always enter something that could never be a number yet enough to be accepted by the site in question.
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