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#1
01-29-2010, 06:55 AM
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Tips for safe Net transactions
 The whole process that normally takes less than 10 minutes could go on for 20 minutes. It becomes almost a memory test, you have to remember the password, and things like your mother’s maiden name, your birth date, address Pincode. It could be irritating, but all of this is being done today to ensure that your funds are safe, and you have nothing to worry about when you conduct transactions online. It’s part of a move to make online security more dynamic. Apart from the customer Id and one time password, companies are trying to bring in more levels of complexity so that hackers cannot get into the system. Security service providers today offer a variety of such solutions. 
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#2
01-29-2010, 06:56 AM
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 One of these involves issuing a smart card or token which has changing numbers in them. When a user logs into his bank or brokerage website, he will be asked to fill in not just his password but also the additional number given in the token. The token number is a set of 7 to 8 digits that changes every 30 or 60 seconds. It’s based on an algorithm that does not repeat a number for almost eighteen years, and the algorithm in the token is coordinated with an exact same one linked to your online bank account. As soon as the user fills in the token number, the server will cross check that with the one linked to the account and authenticate the user only if the two are identical.
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#3
01-29-2010, 06:56 AM
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 “A manual or static system is easy to hack into. But when the system gives a dynamic password each time and is a time controlled device, then it is tough to hack,” says Arthur Coviello, CEO of RSA (the security division of EMC). The use of tokens for high net worth clients is on the rise. But it’s also getting into mass usage. RSA is shipping 400,000 of such tokens to the Bank of China every month. “One of our customers, Bajaj Capital in Delhi, has about 150,000 customers. They are issuing tokens for users who do internet trading and even have an additional code requirement for doing any transaction,” says Amuleek Bijral, country manager (India) for RSA
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#4
01-29-2010, 06:57 AM
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 Rajiv Chadha, VP for sales in VeriSign, says banks, and many others, are increasingly becoming aware of the need for a second factor authentication. So much so that in some countries like Brazil, it’s creating a problem of excess. “A customer in Brazil wears about 5 tokens around his neck - two for bank access (different accounts), one for his office authorisation, and two for access to other niche applications. Now the banking authority is looking at creating one common token standard to make life simpler for consumers,” says Chadha.
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#5
01-29-2010, 06:58 AM
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 Another dynamic security solution involves keeping an active account of user behaviour and taking action accordingly. Thus, the system will note the IP address from which you normally log in to the account, the nature of activities you normally conduct with the bank, the browser you use and the version of it, and even may be the resolution of your monitor. If there is a significant deviation from any of these, the software could be programmed to take action in some form. “When I was traveling to Italy and wanted to transfer money to my daughter in the UK, the system did not allow my request to be processed,” says Coviello. “So then I had to call up the bank, answer some questions and only after that was I allowed to transfer the money.”
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