Commonwealth considers increased security for internet banking

Commonwealth Bank will make a decision later this year on which additional security measures it will use to complement its new internet banking technology. Any additional security measures would not be introduced until 2006, and possibly later. Technical evaluations are under way and the bank has indicated it will start soliciting information from potential suppliers in three to four months. The bank has already surveyed its customers regarding their preference for a second level of identity authentication that would be used in addition to existing passwords. National Australia Bank, Westpac and Bendigo Bank have already adopted additional security measures for some or all of their customers who bank online.

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