Multifactor Authentication No Worry Say Hackers.
DefCon is an annual gathering of security professionals and hackers. At their recent gathering, security researcher Brendan O’Connor presented several scenarios in which online banking security has gotten worse. Despite FFIEC guidelines that requires banks to comply with the, to provide multi-factor authentication, O’ Connor feels that despite these new safeguards, phishing sites are still operational today. Putting more walls to breach is not improving security in any big way, because attackers aren’t getting in by guessing, they’re getting in by stealing the credentials or tricking the end-user into giving away the credentials. Read more at Bankwide.