HBOS rolls out two-factor account access

HBOS has rolled out security tokens to its online corporate and high-value private banking customers, as part of a drive to protect them against phishing attacks.

The banking group has supplied customers with RSA SecurID Tokens free of charge. The tokens generate a unique passcode each time a customer logs on, making it more difficult for criminals to access bank accounts using stolen details.

"Even if an individual is caught out, there is a level of security the fraudster can't get past," said HBOS. "Phishing has been a phenomenon of the past two years, and probably every bank sees regular attacks."

HBOS uses Cyota software to monitor and shut phishing sites, but there is a window of risk between discovery and closure, which the tokens help to close, said the bank.