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hsbc-accuses-competitors-of-competing

Posted by: admin 15 years, 10 months ago

From ZDNet UK:

Speaking at the Gartner IT Security Summit 2006, Brendan Pickering, group head of fraud technology at HSBC, accused rival banks of getting into an "arms race" approach to authentication.
What is next? Lowering interest rates to gain market share? Having people in a branch? Advertising? Where will it stop?

Perhaps this is different, though:

"Phishing and Trojan attacks have caused a number of banks to deploy [two-factor authentication] tokens. The deployment of such tokens, on their own, will in the short term redirect the attackers' efforts towards banks which do not deploy them," said Pickering at the Gartner security summit in London.
I guess that he would prefer that banks also stop showing off their big vaults, security cameras, guards, etc.

To be fair, Pickering does have a point, deploying tokens without mutual authentication is just a temporary solution. That being said, do you think that the users appreciate it that those banks have made the effort?

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