For years now I’ve been… less than impressed with the ANZ bank’s concept of how a secure banking website should work. Finally they’ve taken steps to harden their site. They’ve introduced “secret questions”, like “who was your best friend in high school”, “what’s your partner’s nickname” and “what’s your nickname for your youngest child”. At last, my money is now safe from thieves who will never guess that my my partner’s nickname is Cathy, my best friend in High School was Robert, and my youngest’s nickname is Marky. Oh, darn! I accidentally disclosed the answers to those secret questions! It’s as if that information would be widely available to any thief who took the time to look me up on Facebook (don’t bother, I’m not on Facebook).
Because in providing answers to these questions the security on my account was going up, not down, I couldn’t possibly be allowed to opt-out, with dire warnings about being liable for losses if someone found out the answers. To these most basic of questions.
Most other banks have implemented two-factor authentication. Even G-mail has two-factor authentication. But not the ANZ, they’ve stepped things up a notch. They’ve eschewed two-factor, and gone for “You’ll never guess the name of my pet, which I post on Facebook all day long”.
So I took my standard defensive action: attack surface reduction and target-value minimisation. To reduce the attack surface, for each answer I mashed the keyboard – so thieves, remember my first Primary School was in the suburb of pwofkmvosffslkdflsifcmmsmclsefscdsfpsdfpefsdflsd, or something. To minimise the value of the target, I swept all the funds out of the account. What’s wrong the the technique of establishing identity by the production and examination of 100 points of identifying documents? Why do I need to have a favourite colour?
Cathy worked for the ANZ until recently, and the day she received her final paypacket she shut the account. Hated their account with a passion, but the ANZ is incapable of paying their employees through anything other than an ANZ account. Because, you know, banking is hard.