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Security threats Toolkit

Story: HSBC's bankrupt security thinking

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Posted by: Robin Wishart (Wednesday 4 October 2006, 6:59 PM)

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I am looking for some clarification on Asec Mann's comments. I understand that two factor authentication is no guaranty that there will not be some other security breach but it is an improvement over single factor authentication from a security perspective. It also makes it much more difficult for an identity thief to exploit as they need two items (or information) to pass themselves off as the real individual. If you have two banks with identical security except one bank has two factor id then the bank with the 2 factor id is going to be more secure. If there is something wrong with this logic, please clarify.

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