Evidence Clearly Points towards Need for more Secure Online Banking Log-in.



Why not replicate what consumers and banks already trust to dispense money at ATM's?  Swipe Your Card, Enter Your PIN.  We've got it backwards.  Right now the only ones doing the "swiping" are the Hackers. 



There has been a mind-boggling "4995% Growth in Data Stealing Trojans since 2007"...1424% Growth in the Past Year! 37,000 New Ones Everyday!  You are aware that hackers can redirect users to "a PERFECT COPY" of the bank web site they are "EXPECTING" to see. Problem is, when log-in details are "typed/entered" they are sent to the hackers providing them with the information they need to steal you blind.



A PandaLab research that says that approximately 37,000 malware samples are discovered every day - and more that half of them are modified during the first 24 hours to bypass anti-virus programs.

Other research shows that the number of data-stealing Trojans has increased 1,424 percent in the past year (and a whooping 4,955 percent since 2007!).



The focus? Online Banking...



"Security experts have warned that the on-line banking Trojan known as Zeus or Zbot could become one of the most challenging yet, confirming the malware often goes undetected by popular anti-virus packages.



Trusteer Inc, has reported (click here for the PDF) the Trojan could already have infected as many as 1% (3.6 MILLION) of all US PCs and stands as the world’s number one botnet. The company said in tests based on data collected from consumer PCs during one day in September it found that 55% of machines were infected with the Trojan, despite 71% of the machines having to-date anti-virus systems"



Zeus, which is also known as Zbot, WSNPOEM, NTOS and PRG, is the most prevalent financial malware on the internet today, the company said.

If the bad guys are focusing on how to steal username's and passwords, isn't it time for the good guys to focus on a better way to authenticate an online banking session.  Can you think of a better way than one which is already trusted by banks and consumers alike?  Swipe your card...enter your PIN.  HomeATM manufactures the worlds ONLY PCI 2.x PIN Entry Device designed to do exactly that.  I could MAYBE see the argument FOR username/passwords in 2002..BEFORE what we knew what we know now.  But shouldn't we KNOW BETTER?



Let's be realistic here.  A 4,995% increase in data stealing trojans since 2007?  A barrage of phishing attacks? Lawsuits against banks? The threat of losing 49% of your customers?  In my mind, requiring that consumers access their online banking session the same way they access cash at an ATM is a no-brainer... If the methodology is trusted enough to dispense CASH in real-time, it's got to be good enough to be trusted to log-in to your banking session.  where am I wrong here?