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Raising the Security Bar

By on August 12th, 2008 in Technology

Security on the web is a huge deal. I’m surprised at what I view as financial institution’s slow adoption of Extended Validation Security Certificates.

Extended Validation Security Certificates give visitors an easy and reliable way to establish trust online by triggering high security web browsers (such as the newer versions of Internet Explorer and Firefox) to display a green address bar with the name of the organization that owns the SSL Certificate. The green bar verifies that web site traffic is encrypted and the organization has been authenticated according to the most rigorous industry standards.

Financial institutions are constantly struggling to thwart phishing attacks and other online fraud. In many cases, credit unions and banks rely on educating their account holders. What could be easier than telling them to look for their financial institution’s name in the GREEN address bar in their browser.

Criminals can copy web pages and branding elements with ease. But, it will be nearly impossible for them to display a GREEN address bar with a legitimate institution’s name being displayed in that bar.

Granted, these Extended Validation Security Certificates are expensive. But, well worth the cost to protect your account holders and demonstrate your financial institution’s attention to security.