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Wednesday, 14 February 2007

PayPal Release New Security Key

The main reason behind this new security measure from PayPal is to beat phishing attacks, that can gain login details for accounts. PayPal which is owned by EBay, is ultra popular with EBay's users and and can also be used on pretty much any website selling something. PayPal have been targeted by these phishing attacks for a long time now, which has resulted in a lot of fraud not just for regular Paypal users but on a much larger scale for enormous amounts of loyal, trustworthy EBay users. The new key will generate a different 6 digit number every 30 seconds which you will use to login to your account along with your username and your account password, giving you 2 passwords if you like. This isn't the first time this has been used by no means as lots of business companies use this system but it really is about time PayPal done something to better their security, no matter how big or small.

Just to keep you aware, Phishing attacks are fake emails if you like, imposing themselves as, in this case, an email from EBay or Paypal. Encouraging you to reply so they can monitor you using your login details. Some are just plain stupid and you really would have to be an idiot to fall for them but some are very well put together and can easily catch people out. So you are warned!

This new "Security Key" will be available to US users first and will cost $5. I will tell you however that this doesn't guarantee total safety. Some phishing attacks can get past this but it is a lot safer than to have one than to not.

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