BT launches new service to fight online fraud
BT has announced the launch of a new authentication service, which will enable UK retailers providing high value or high risk online services to combat fraud and protect user identities.
The new service, BT Managed Authentication, is aimed at organisations which attract large number of customers over the internet to access a specific application. It provides “multi-factor authentication” supplementing the customer’s traditional username and password with an extra one-time-password. This can only be generated by a unique algorithm running on a device or piece of software issued to each individual customer. One-time-passwords expire after a single use and change every few minutes, in order to prevent phishing attacks and protect identities, BT said.
Jeffrey Schmidt, Executive Global Head of Business Continuity, Security and Governance at BT Global Services, said: “Businesses and end-users are facing increasing attacks against online services, and the need for better security is vital. Whether it is protection from fraudsters or simply wanting to reassure consumers that their money or data is secure, many organisations are moving away from username and password, towards stronger methods of authentication. Our new Managed Authentication Service offers this level of protection but also provides a seamless path for roll-out – removing complexity, cost, and time constraints from a critical deployment.”
