On Sunday, 13 May 2007 2:25 am, Hugo van der Kooij wrote:
In fact the system used by the major Dutch banks is audited rather
extensively. The OTP system is based on an external smartcard reader
and a smartcard application on the bank card. They have no physical
connection so the web interfcae will present you with a challenge and
you must use that challeng, your card and your pin to generate the
proper response. Then you have to type in this response.
It is a combination of:
- What you have (the card with the smartcard application)
- What you get (the challenge from the server)
- What you know (your pincode)
A few banks in Australia are using a similar idea: Bank of Queensland
offer a device that every time you press a button it gives a code that
their website expects in addition to your net banking username+password.
Commonwealth Bank do the same thing but instead of a device they do a 2
stage login, first stage being username+pass the second being a code
sms'sed to a pre-registered mobile phone number.
--
Paul Foote
