Government ID, Smart Cards, Identification and Authentication

Report: Security flaws in online bank card readers

Friday, February 27, 2009

Researchers at Cambridge University found weak spots when they reverse engineered smart card readers from Barclays and NatWest, according to a ComputerWeekly.com report.

The readers are used with bank cards to produce one-time password that enable secure login to banking sites. Banks introduced the readers to reduce losses from phishing scams and keylogger attacks but the devices are susceptible to real-time man-in-the middle attacks.

“Optimised to Fail: Card readers for online banking,” was presented at the Financial Cryptography 2009 conference by authors Saar Drimer, Steven J Murdoch and Ross Anderson.

Read more here. [end] 

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