Online Banking: How Safe Is Your Money?
Robin Arnfield writes for Newsfactor Online about the safety of online banking and the range of efforts being taken by financial institutions to better secure their systems against attacks.
"Banks are reluctant to share hard data on the scale of online fraud. But in response to the growing threat, financial institutions around the world are stepping up their user-authentication systems and strengthening their risk-monitoring technology.In the U.S., the federal government has given banks until the end of the year to install better online-security measures. Some companies, such as Bank of America and E*Trade, have gotten a head start by introducing two-factor authentication technologies to complement the traditional user name and password required for accessing online services."
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