Wednesday, November 21, 2007

Biometric Technology

Biometrics have been previously been used for ATM authentication and Laptop security, but now Germany in Europe is all set to use it for Credit Card less transactions. It is being used as a substitute to master card and the authentication is done directly by swiping the finger against the m/c. The chances of fraud due to theft et al are minimised to a great extent by this method and chance of a duplicate finger is 10 million to one. Highly improbable to hack.
Security methods are being developed at breakneck speed to keep the uneven minded hackers and online pirates at bay. US has developed a method by which secure credit card transactions can be done by ceating a one time credit card number for use with non-secure or non-participating e-commerce sites.
In India people are apprehensive of Credit Card products due to strong arm tactic used even by reputed banks like ICICI and HSBC under media scanner and court scrutiny. Recently Maharstra govt. has taken measures to ensure that agencies used by Banks do not hire con men and use gentle means to get their money back.

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