![]() They will do the same every time they need to confirm a transaction, instead of simply repeating their password. The customers testing Lloyds TSB's new system will press a button on their device to generate a new six-digit number every time they log on. This stance contrasts with warnings from some other banks - notably HSBC - that in future customers could be held responsible if they do not keep security up to date on their machines.īut Lloyds also hopes that its trial system could effectively toughen up customer access - regardless of the state of their computer. The bank says it is guaranteeing that they will not suffer from losses even if their PCs are compromised, as long as they have not - for instance - given their password away intentionally. Lloyds says that about £12m was lost to this kind of scam in 2004 - but it warns that attacks are multiplying fast. The aim of using menus rather than the keyboard has been to defeat so-called "keyloggers", tiny bits of software which can be used by hackers who have breached a PC's security to read every key pressed and thus sniff out passwords.īut newer keyloggers now also take screenshots, which can reveal the entire memorable word after the bank's website has been used just a few times.Īlternatively, fraudsters use "phishing" emails, which tempt customers to log onto a fake banking website and enter their details. Then, on a second screen, they are asked to use drop-down menus to choose three letters from a self-chosen memorable piece of information. Until now, Lloyds TSB has used a two-stage system for identifying its customers.įirst, users must enter a username and password. Similar systems are already in use in Asia, Scandinavia and Australia. ![]() The code, which changes every 30 seconds, could help fight fraudsters who hack people's PCs or use "phishing" emails to steal login details. Lloyds TSB is to trial a new security system for online banking customers, in an attempt to beat internet fraud.Ībout 30,000 customers will receive keyring-sized security devices, which generate a six-digit code to be used alongside usernames and passwords. Lloyds is following in the footsteps of banks elsewhere ![]()
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