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Don't let this happen to your bank account....

Created: 21 Oct 2008 • Updated: 08 Aug 2012
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You may have read the news over the weekend that cyber thieves raided Sarkozy's bank account and began stealing small amounts of money frequently. This marks the second high-profile online account break-in in recent weeks where an e-criminal broke in through the user name and password security function (the Palin email hack was the other). Consumers need to take full responsibility and control of their online accounts by securing them with an added layer of security, beyond a username and password. With more and more consumers putting their identities online, this type of account break-in will continue if we continue to use simple usernames and passwords. One such way to strongly secure an online account is the use of one-time passwords, also referred to as two-factor authentication. Some banks have already started rolling such measures to their customers. The recent news about Sarkozy's account being raided serves as yet another example of why consumers should sign up or ask their financial institutions to offer two-factor authentication for their accounts.

~Vijai Shankar
Sr. Product Marketing Manager, VeriSign Identity Protection Services