| Introduction
of Two-Factor Authentication for nbadOnline Personal Banking Users |
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We
are happy to announce the introduction of two-factor authentication for our customers
when logging into nbadOnline. This new service, which is the first in the region
for any bank, is an essential part of NBAD’s ongoing strategic initiative
to enhance security and to protect its customers. |
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| NBAD’s
two-factor authentication is based on the use of two passwords when logging into
nbadOnline – the normal nbadOnline static password and a dynamic one-time
use password generated by a Secure ID Token. A Token will be provided by the Bank
to each of our online banking customers after the introduction of the new service
at 1:00 AM, Friday, 3rd November, 2006. |
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| Once
the new two-factor authentication service is introduced, there will be a change
in the Login screen for nbadOnline. The new Login screen will include an additional
field “Secure ID Token Code”, apart from the normal “User ID”
and “Password” fields. Until you have received the Token from the Bank,
please continue to log into nbadOnline using your same User ID and Password as
in the past. Leave the “Secure ID Token Code” field blank until you
have received the Token and a subsequent confirmation email from the Bank indicating
that your Token has been activated. The confirmation email will be sent to you
within approximately three business days from the time your Token is delivered
to you. |
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| The
Bank will be using Empost Courier Services to deliver the Tokens to our customers.
The Tokens will be delivered in batches, and you will receive your Token in due
course. However, until the time you receive your Token, you may continue to use
nbadOnline normally by logging in using your same User ID and Password. Remember
to leave the “Secure ID Token Code” field blank until you have received
both your Token and the email indicating that your Token has been activated. |
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| What
is the Secure ID Token? |
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| The
Secure ID Token is a small electronic key-chain type device that randomly generates
a 6-digit code (the Token Code) and displays it on its LCD screen. The Token Code
changes every 60 seconds on the Token and is displayed for only 60 seconds before
a new Token Code is generated and displayed. The Token Code essentially becomes
a dynamic one-time use 6-digit password that has a one-minute expiry time limit.
It is used in conjunction with the Customer’s normal User ID and Password
to log into nbadOnline. The Token Code, as indicated previously, will be provided
to all nbadOnline customers and will be used as a second password to authenticate
customers and to increase security. |
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| How
it works? |
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| The
Token Code generated by the Secure ID Token plus your existing login User ID and
Password provide you with secure two-factor authentication when logging into your
nbadOnline account. Therefore, all you need to do when logging into nbadOnline
is enter your same User ID and Password plus the 6-digit Token Code appearing
on your Token at the time of logging in. As a reminder, the Token Code on the
Token changes every 60 seconds. So if prompted, you may wait for the Token Code
to change on the Token and then enter the new Token Code. Again, once you have
received your Token, it will be activated after approximately three business days
from which time the Token Code will be mandatory when logging into nbadOnline. |
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| How
does the Secure ID Token make banking online safe with NBAD? |
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| The
Secure ID Token provides a hassle-free, secure and reliable means of banking online
with NBAD. As you are aware, many phishing attempts have occurred in the online
banking industry whereas fraudsters continually try to entice online banking users
by diverting them to fake online banking websites to steal and then abuse their
user IDs and passwords. However, with NBAD’s introduction of the secure two-factor
authentication using Secure ID Tokens, phishing attempts to steal user IDs and
passwords would be negated by the additional and new dynamic one-time use password
(Token Code) generated by the Secure ID Token. Essentially, phishing would prove
to be useless to fraudsters because of the increased security level of the two-factor
authentication with logging into nbadOnline. This revolutionary two-factor authentication
process effectively increases security and helps in preventing fraud. While we
are proud to announce this enhancement, we would like to remind you that security
is relative and hence you are supposed to exercise due diligence on all occasions. |
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