Comments on: I Know How Important It is to Use Protection, But…

By: alex from billiondollarwebsites.com

alex from billiondollarwebsites.com — Fri, 20 Jul 2007 10:51:11 +0000

With regards to Veron’s quote
“UOB�s approach of letting people decide for themselves whether they want the security device is so much better.”
Yes UOB understand their customer well. Time & time again the If it’s not broken, don’t fix it concept has been proven. Looking at how some HSBC & DBS customers moving to other online banking platform.

Now for those who are entrepreneurial, i have an idea as explained on my blog at http://billiondollarwebsites.blogspot.com/2007/07/veron-at-sparlette.html View all comments by alex from billiondollarwebsites.com

By: zeroflame

zeroflame — Fri, 08 Dec 2006 17:58:19 +0000

if a hacker can get hold of yr pin and yr handphone..doubtful that the device will still be with you…
i got mine today..and i will not register it online till the very last day i die die have to use it. View all comments by zeroflame

By: DK

DK — Sat, 02 Dec 2006 19:35:45 +0000

For a moment, I tot you shot-gun-ed. :P View all comments by DK

By: Eng Kiat

Eng Kiat — Sat, 02 Dec 2006 17:05:05 +0000

I read the upcoming Citibank one has an SMS option so u don’t need to carry the token thingy around. Also, u can login without the second factor password, u only need it when u need to transact.. seems more convenient. Maybe DBS should use this approach… View all comments by Eng Kiat

By: chrischoo

chrischoo — Sat, 02 Dec 2006 06:29:19 +0000

The device is extremely inconvenient. They should only use it for authorizing new bill payments or new funds transfer payees. Having to use this device simply to log and check an account balance is overkill.

It doesn’t address the problem that I might be overseas and wouldn’t want to carry the device with me. What was wrong with the previous handphone OTPs for adding new funds transfer payees?

I really don’t get it. This 2FA thing is absolutely useless. So much for *internet* banking. I might as well go back to using the ATM.

I *hope* that they don’t introduce this to their Business Internet Banking (IDEAL) soon. That would really piss me off. View all comments by chrischoo

By: Aristocrat

Aristocrat — Fri, 01 Dec 2006 18:10:54 +0000

I see a deluge of comments, plus new visitors as well lol.

Well Sad Girl, if it’s iBanking you are engaging you might want to take note of the “security” of the desktop/laptop you are using. Sometimes there may be keyloggers in your comp? However I’m not sure if a “secured” site is able to prevent keylogging. Likewise, cleaning your comp of spyware is important too. The consumer needs to play a role, not just the service-provider.

Good luck! View all comments by Aristocrat

By: pkchukiss

pkchukiss — Fri, 01 Dec 2006 16:27:39 +0000

Security measures can get a bit stifling, especially when extra authentication is needed, but if it concerns the safety of both my data and money, I strongly feel that these measures are not only necessary, but the last line of defence in the event that your pin is compromised.

Don’t wait until your money has all been transferred out to whine about the lack of security.

I do agree that the implementation is probably a little option-less, since given the mobile phone penetration in Singapore, it is quite dumb not to leverage on the omni-present cell networks for the 2FA authentication. View all comments by pkchukiss

By: michael

michael — Fri, 01 Dec 2006 15:50:39 +0000

We have been telling banks in Singapore over and over again for a long time, but to deaf ears. It’s hard to sell security. sigh. It only becomes important when ‘it’ really happens to them.

Incidentally, most of our customers now are not Singapore based. Does that say something? :)

Have a witty day!

michael
http://www.wits88.com View all comments by michael

By: Johnny Malkavian

Johnny Malkavian — Fri, 01 Dec 2006 14:37:08 +0000

Hi Sad Girl,

I am sorry to hear about your loss and can understand how you feel that the secure device would have prevented something like that from happening.

However, I believe the main gripe that most people are having is that they are being strong-armed by DBS into using it, and not given an option to use other methods instead.

I wish you well in your future dealings with the DBS. When I get my secure device, the first thing I will do, like many others, will be to transfer all my money to UOB and close my DBS account.

What a PR nightmare, DBS. View all comments by Johnny Malkavian

By: sad girl

sad girl — Fri, 01 Dec 2006 10:47:33 +0000

and i have to let u guys know… that its not the ibanking that we should worry as we have to verify if transfer to a third party.. this smart hacker here use enets … d2pay to transfer to other accounts.. so the device will be really helpful.. its beter to be safe than sorry… View all comments by sad girl

By: sad girl

sad girl — Fri, 01 Dec 2006 10:43:21 +0000

I got even a bigger shock when the bank says there was a $2949 ttransaction of d2pay from dbs bank out of my account on 29/11/06. I cant believe that dbs security is so easily being hacked into.. i made police report + bank report… now still pending.. its $3k suddenly gone.. how i hope that i can get the device earlier.. but i lose confidence in dbs banking… have being with OCBC banking for 10 yrs and none of this happen… and ironically, i just open account with dbs bank 2 months ago.. sighz View all comments by sad girl

By: sad girl

sad girl — Fri, 01 Dec 2006 10:39:41 +0000

well, u probably haven got burn like me… This happen to me just a 2 days ago. My dbs ibanking was being HACKED.. my last transaction was on 27/11 bll payment to sp services. On 30/11/05, i tried to access my ibank and login but the password was rejected 3 times and account was locked. I got a feeling something happened and called the bank. After verifying my personal details, they told me my last transaction was 30/11 of 2 transactions of $20.39. I was shocked View all comments by sad girl

By: Jonathan

Jonathan — Fri, 01 Dec 2006 08:57:29 +0000

Hi. I prefer to call your Chinese name. I happen to have a friend with the same name too! View all comments by Jonathan

By: Veron

Veron — Fri, 01 Dec 2006 06:37:12 +0000

True, I found many excellent blogs through ping.sg too. It’s my favorite website of the year. View all comments by Veron

By: Cobalt Paladin

Cobalt Paladin — Fri, 01 Dec 2006 06:32:38 +0000

Actually, you should thank ping.sg. That’s where I first found the article. :) View all comments by Cobalt Paladin

By: Veron

Veron — Fri, 01 Dec 2006 06:28:56 +0000

Hi Jonathan,

Wow I haven’t been addressed by my Chinese name in a very long time! Thanks for your comment, and I’m glad you like my blog.

I do most transactions with DBS too. In fact I came to work today and needed to transfer some funds to someone. And hey, guess what? I didn’t have my device with me!

UOB’s approach of letting people decide for themselves whether they want the security device is so much better. View all comments by Veron

By: michael

michael — Fri, 01 Dec 2006 06:22:38 +0000

Iknow most people dread them.
We are from a safe sect so we use our tools safely. We outwit hackers. See http://www.wits88.com :)
michael View all comments by michael

By: Jonathan

Jonathan — Fri, 01 Dec 2006 06:21:23 +0000

Hi Wanting,

I really like your blog. Very well designed and well written.

I like your heading for this article on internet banking. Was thinking about the media article on the rise of aids but then to my surprise, it was on internet banking. Wahahaha

Anyway, i too feel it is troublesome to have the 2 factor authorisation. esp with DBS bank where i do the most transactions. I don’t think the phishing cases have resulted in any losses to the bank as third party payments are already controlled. View all comments by Jonathan

By: Veron

Veron — Fri, 01 Dec 2006 06:19:03 +0000

“50 visitors currently online”! Whoa! The power of tomorrow.sg… Thanks Cobalt Paladin! View all comments by Veron

By: Veron

Veron — Fri, 01 Dec 2006 06:16:37 +0000

Haha Aristocrat! I know sex sells! But I simply had to try it to believe it! View all comments by Veron