[Gllug] Any UK banks using one time passwords / secure ID tokens ?

[Peter Childs]

On 02/10/05, Daniel P. Berrange <dan at berrange.com> wrote:
> On Sun, Oct 02, 2005 at 02:38:52PM +0100, Alain Williams wrote:
> > >
> > > At an absolute bare minimum, I'd like to be required to use one time
> > > passwords and/or one time keys from a secure ID generator token. I hear
> > > such measures are common practice in countries such as Sweeden, but thats
> > > not much use for me. So, my question, does anyone know of any UK banks
> > > which are providing this kind of level of serious security ?
> >
> > As far as UK banks are concerned, security means protecting their own security.
> > They want to offload the responsibility for something going wrong onto someone else.
>
> Yeah, unfortunately pretty sums up the problem. You can see a similar attitude
> with the introduction of chip+pin, and the dispute resolution process
>
>   http://www.cl.cam.ac.uk/~mkb23/spin/problems.html#dispute
>
>   "UK banks have a voluntary code of practice that is supposed to say what
>    happens in the case of a phantom withdrawal. You can see the clause on
>    liability here. It says that the bank must show that the customer acted
>    fraudulently or without reasonable care, otherwise reimburse the customer
>    fully. Initially this seems very promising, however there are big gaps.
>     ...
>
>    The banking code of practice is thus inadequate to protect the customer.
>    The signature on receipt system provides much better dispute resolution
>    for customers. Using a PIN is thus not in the customer's interest."
>

You will also note that many of the Scandinavian Countries do same day
account money moving unlike the UK where it always takes at least 3
days and sometimes 30 or more. (3 days profit for the bank)
UK Banks are a bit of a joke, after all even Natwest take 3 weeks to
answer a simple question (like how much money do I owe you) and given
there adverts they are obviously based in a friendly nightclub with
their call centre in India somewhere :)
It was only after Halifax multiplied current account interest by 10
that everyone else had no choice but to follow suit with the possible
exception of the main stream banks like Natwest, (Strangely Halifax is
also the bank open on a Saturday morning here). Not that Halifax are
any better than the rest.
Banks in this country are a mess, But because we are so apathetic as a
nation nothing will change.

Peter Childs
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