Despite all the Web 2.0 rhetoric the internet still has no sure-fire answer for rampant phishing frauds. Microsoft, PayPal and Google – the who’s who of the internet – have laid the cornerstone of the Information Card Foundation to confront some of the most daunting and taunting online security challenges. The organization has as its immediate goal to replace each individual’s myriad of online passwords with a single ID card.
Such an ID card will be a person’s key to the internet and will only transact information absolutely necessary for accessing a website. It can certainly put a lid on phishing fraud. The technology required for these information cards is present as we speak but there aren’t enough compatible websites. Also don’t forget it is easier to treasure – or even venerate - a single all-purpose ID card than innumerable passwords.
Did You Know: eBay-owned online money transaction major PayPal has been offering a cheap security device called Security Key, which is effectively a key generator, since early 2007 to its customers. Security is paramount for PayPal as any lapse or breach can result in serious monetary damage to its users. PayPal offers this device for $5 to all its users except business members for whom it is free.