20 Jan '11, 6am

IDA Sets Up Subsidiary to Facilitate More Secure Online Transactions

With the increased availability of online services offered by key sectors such as banking & finance, Government and healthcare, NAF can safeguard against unauthorised access to sensitive information, such as bank account or electronic health records. A system is said to use strong authentication when it requires at least two factors before access to the system is granted. This contrasts with traditional single-factor authentication which requires only one authentication factor, usually the knowledge of a password, in order to gain access to a system. A popular second-factor authentication method that many banks are offering to their online consumers today is One-Time Password or OTP. When a user accesses an online service, in addition to User-ID and Password, the user would be required to enter an additional "second factor password", which is generated on demand. The dynam...

Full article: http://www.ida.gov.sg/News%20and%20Events/20110120102536....

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