An article at Out-Law explains how Barclays will be providing customers beginning next year with a hand-held car reader device allowing them to generate a one-time password.
As Out-Law explains the move follows an Apacs recommendation for more security measures:
“In view of the growing incidence of Trojans and phishing attacks directed at internet users, banks are recommended to move towards stronger authentication for their online banking customers,”
I recommend reading the article that provides very interesting information on how Barclays handles online fraud with regards to its customers :
Asked if the bank refunds victims of phishing attacks who revealed their security details to a fraudster, Holloway indicated that the professionalism of a particular attack will be relevant and each instance would be judged on a “case by case” basis. Barclays does not disclose how many of its customers have suffered such attacks.
And if you don’t know the site Out-Law it’s well worth subscribing to !