tamper-resistant and contains an
operating system and software of its own); the entry of
passwords and one-time codes is offloaded to the card
reader’s keypad (where they cannot be sniffed or altered); and
each transaction is confirmed cryptographically after its
details are shown on the card reader’s display (where they are
not subject to manipulation by malware writing on top of data
on the screen).
Of course, this system is complex, which means it will be
hard to implement correctly; it is comparatively expensive,
which will slow down its adoption by the banks; and it is
inconvenient, which will slow down its acceptance by users.
Also, phishers currently target our banking credentials so that
they can later masquerade as us in order to raid our accounts.
They do this because they can, because it is easy, and because
it works. As we have seen, making this harder, or even
impossible, is unlikely to stop phishing. The phishers will
respond by attacking and subverting other parts of our on-line
lifestyle.
This doesn’t mean that we should ignore technological
advances in computer security, any more than we should
throw out the seat belts, the airbags and the crumple zones
from the modern automobile. But it does mean that we need
to keep ourselves informed and vigilant when we spend
money on-line, just as we are encouraged to be safer and
more responsible drivers on the road.
This article was provided by Sophos and is reproduced here with their full permission. Sophos provides full data protection services including: security software, encryption software, antivirus, and malware.
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