e-Authentication Methods
There are three basic authentication factors (i.e. "something you know", "something you have", and "something you are") commonly referred in an authentication system. Two-factor authentication refers to the use of two authentication factors in combination for verifying the identity of the user, and it is in general more secure than single-factor authentication. While fraudsters may be able to capture a user's password over the Internet, it would be difficult for them to get hold of the user's smart card or mobile phone via the network. As a means to tackle with the increasing threat of identity theft, most local banks have already implemented two-factor authentication for conducting high-risk Internet banking transactions.
The following sections describe some common methods that can be used in an authentications system.
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