Phishing Defense a Key Factor in eBay-VeriSign Deal

["Fergie (Paul Ferguson)" <fergdawg () netzero net>]

Via Netcraft.

[snip]

Paypal will implement strengthened anti-phishing measures for up to 1 million users next year through a deal announced 
yesterday between VeriSign and eBay, which operates Paypal. While most of the headlines focused on eBay's purchase of 
VeriSign's payment processing unit for $370 million, the most widely-felt benefit of the deal will likely be the 
enhanced security for Paypal, which has been relentlessly targeted by phishing scams.

The agreement calls for eBay to buy up to 1 million two-factor authentication tokens from VeriSign. eBay and PayPal 
plan to begin the rollout of two-factor authentication to customers in 2006, including marketing and security programs 
designed to "promote customer adoption."

Two-factor authentication, which uses physical security devices to generate a single-use password, is being advanced as 
a way to reduce fraud losses from phishing. It is being used by a growing number of banks in both the US and UK. The 
token is typically a compact electronic card-like device which displays a number on a small screen. By entering this 
number into the online system when you login, you prove that that you are in possession of the card.

[snip]

http://news.netcraft.com/archives/2005/10/11/phishing_defense_a_key_factor_in_ebayverisign_deal.html

- ferg


--
"Fergie", a.k.a. Paul Ferguson
 Engineering Architecture for the Internet
 fergdawg () netzero net or fergdawg () sbcglobal net
 ferg's tech blog: http://fergdawg.blogspot.com/

_______________________________________________
Fun and Misc security discussion for OT posts.
https://linuxbox.org/cgi-bin/mailman/listinfo/funsec
Note: funsec is a public and open mailing list.