VASCO Data Security International, Inc. (VDSI), a global leader in authentication, digital signatures, and identity management, announced today that The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) has implemented VASCO's two-factor authentication solutions to protect retail banking customers accessing the bank's online banking services.
DIGIPASS for Mobile for smartphones will be deployed as a one-time password (OTP) service to secure the bank's "Tokyo-Mitsubishi UFJ Direct" retail banking service. VASCO's VACMAN Controller, a large-scale authentication platform, will provide the verification engine for high volume authentication requests. DIGIPASS authenticators are being offered to customers free of charge.
Japan has seen an increase in criminals attempting to steal banking customers' user IDs and passwords through phishing attacks and spoofing tactics. "Criminal hacking organizations are increasing their attacks on financial institutions in every region of the world," stated Jan Valcke, President and COO of VASCO. "Banking customers want the convenience of conducting mobile and online banking transactions, and this requires a higher level of security while still providing a friendly online banking experience."
Bank of Tokyo-Mitsubishi UFJ is taking additional steps to protect its customers including implementing an awareness campaign to educate customers on ways to protect themselves from hacking attempts. The bank is also providing customers with anti-virus software and is implementing additional security measures, including DIGIPASS for Mobile for smartphone, to strengthen the security of its online banking services.