Days after confirming that information on approximately 60,000 customers had been stolen by an identity-theft ring, Bank of America last Thursday announced plans to tighten security.
Beginning next month, the Charlotte, N.C., bank will offer a service called SiteKey that will make it harder for thieves to access Bank of America accounts. SiteKey will recognize when an account is being accessed via an unknown computer and will generate a predetermined "challenge" question, adding a level of security to the process of logging on. The software also lets users choose a specific image - a photograph of a dog, for example - that then can be re-shown to users to reassure them that they are actually visiting the Bank of America Web site, and not some other site masquerading as www.bofa.com.
The service will be rolled out as an optional feature for the bank's Tennessee customers next month. It will be available to all of the bank's 13.2 million online customers by October, says a bank spokeswoman.
Bank of America was one of four banks targeted by the identity thieves, who stole information on about 676,000 customers. Police have charged 10 suspects, eight of whom are former bank employees.
McMillan is a correspondent with the IDG News Service.
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