US mandates more security in online banking

Complex ID verification designed to combat fraud

By Hiawatha Bray

Globe Staff / November 7, 2005

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Online banking, advertised by banks as nearly effortless, is about to become more cumbersome. Federal regulators, alarmed by the threat of online financial fraud, are requiring banks by the end of 2006 to provide several layers of identify verification before customers can access their accounts and conduct other banking over the Internet. (Full article: 884 words)