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Bank Of America Looking To Proximity Based Authentication

Bank Of America Looking To Proximity Based Authentication

Have you ever forgotten your password for your Bank of America (BoA) account, and request that the password be sent to your mobile phone? Well, there is a possibility that when you do that in the future, the system will track the location of your mobile phone before sending out the password. This is due to a new patent filed by the company, claiming that it is a way of minimizing risks of false authentication by ensuring that the mobile device that the password is sent to is more or less in the same location as the computer used to access the online account. Tracking can be done is various ways such as GPS, Wireless IP geolocation, cellphone tower signal triangulation etc. Do you think that it’s a good idea to do this, or do you just feel that it’s an invasion of privacy?

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