High street banks are preparing to increase password protection for their online banking services because of the high proportion of PCs in the UK now infected with malware.
Speaking at the RSA Conference 2008 in London, Mark Stanhope, senior manager for e-crime at Lloyds TSB, said the bank now worked under the assumption "that the vast majority of home machines are compromised".
He predicted in future banks would try to get around this by sending one-use passwords to online account holders by means unconnected to the infected machine, such as by SMS or phone call.
Combining this two-factor authentication with the monitoring of accounts for unusual transactions would provide greater protection against fraudsters, he said.
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