Online banking is a very popular thing nowadays, mainly because it is very convenient - you can make any kind of transaction right from your home computer, without need to go to nearest bank.However, this convenient way of managing your finances has its flaws, one of them - security problem. There is a big variety of viruses and hacks, so any information that remains on your computer can be potentially stolen or erased. When we are talking about bank accounts this threat seems serious. So, what should we do to protect ourselves from being robbed by an anonymous hacker? Today, IBM presented its vision on Online Banking Security , which will do all online banking functions bypassing user's PC. Details follow.
This device looks just like the ordinary USB Stick , with a display and smartcard slot, that needs to be connected to user's computer. Then, it creates secure connection channel to bank's online transaction server. This connection completely bypasses user's PC, which means that no information is saved or stored on it. That way, even if PC is infected with unknown virus or malware, no precious information will be harmed - this is what this device is about. Built-in display could be used for transaction log and validation, and smartcard slot add an extra layer of security and protects transmissions from man-in-the-middle interceptions.
The cure for online banking paranoia is called Zone Trusted Information Channel, and it works by running the Transport Layer Security/Secure Sockets Layer (TLS/SSL) protocol, including TLS engine and a networking proxy. This was made to completely remove any risks of data interception by viruses on host PC, so even if PC is heavily infected, there will remain nothing from your online banking session to be worried for.
This USB Gadget has many advantages; with it you can make online transmissions from virtually any PC without worrying about safety of your account information. One of the greatest advantages is that it is fully based on existing security protocols, which means that there is no need for upgrading bank servers - no changes required. Developers claim that this security device will be compatible with all major operating systems, and it is ready for bank trials.
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