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New Bank Practices Make Hacking Easier

www.darkreading.com

Many of the new practices that banks are using to verify users' identities are actually making their customers easier targets, according to a security researcher.

In a study presented this past weekend at DefCon in Las Vegas, independent researcher Brendan O'Connor outlined a variety of methods that attackers could use to turn banks' latest security measures to their own advantage.

Many of the new authentication methods are a response to federal banking requirements, which state that banks should not rely on a single password system. Under guidelines and deadlines set by the Federal Financial Institutions Examination Council (FFIEC), most banks are now asking customers to answer a challenge or identify a "personalized" image before they can log into their accounts

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