What You Enter Is What You Sign: Input Integrity in an Online Banking Environment

One problem with most currently used transaction authentication methods is that they depend on the customer´s computer for integrity of the information flow between customer and bank. This allows man-in-the-middle attacks to be conducted using malware for financial fraud. Some banks are implementing new authentication methods that allow customers to verify transactions received by a bank without depending on the customer´s computer to provide information integrity. These new methods are more complex compared to traditional authentication methods and need the customer´s attention to be effective, since it is up to the customer to verify the information that was received by his or her bank. By examining the intrinsic problems of traditional and new transaction authentication methods as used by banks, we designed an alternative authentication method named ´Entered Single Transaction Authentication´. Our method ensures that the bank receives information as the customer entered it without requiring further verification by the customer. We introduce the concept ´What You Enter Is What You Sign´, which ensures the digital integrity of information as soon as it is entered. Our proposal is theoretical and high-level, but opens the way for secure transaction authentication methods that rely less on the authenticating party to provide correct information, thereby reducing errors and improving user friendliness.