Security flaws at bank websites?

Some financial services firms have embraced a method of site authentication that calls for customers to make sure they see a designated image on the site before they sign on. If the image isn't there, it means the site is a spoof or some how not real. Sounds good, but some researchers at Harvard and MIT did some research and found that the system isn't all that great. Nearly 70 Bank of America customers were asked if they saw the graphic to enter their online banking activities but were not shown the image. Only two opted not to log on for security reasons. Bank of America is not daunted by the results--it notes that the image system is not the only means for protection, just one of several layers. This is a fairly hot topic right now. Hopefully, we'll see more innovation.

For more:
- here's the article from The New York Times