Paypal Adds Another Layer of Security
Paypal, the highly popular money service which allows users to create accounts through them and buy safely without divulging personal information over the Net has created a new layer of security for their users.
Paypal works great (I have an account with them), but the only risk you have with them is when you create an account with them you set up a user name and a password. If someone steals your user name and password then they can enter your account and do what they want with your money.
This usually occurs when people get a phishing e-mail. This is an e-mail which the sender attempts to look like it’s coming from Paypal. It directs you to another site (not Paypal) to fill out your username and password because “Paypal” needs to complete an upgrade to their system.
People will respond to that e-mail, fill out their personal information and of course the thieves then access the account and empty it. So to prevent this from happening. Paypal is now allowing users to order a security key.
Paypal has joined up with VeriSign to off this little device which costs $5 and will be available in early 2007. When you first get it you link it to your account. Roughly every 30 seconds it will generate a new 6 digit number.
When you log it, you will use your username, your password and your 6 digit code. So even if someone has your username and password the 6 digit number will protect you. Is this foolproof? Obviously not, but it does offer another layer of protection.
You can see a demo or order the security key now.
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