White House Plans Safer, More Reliable Online Transactions

Due to the growing number of identity theft, account breaches, and other cyberattacks, the United States government disclosed a new financial transaction scheme over the Internet, which is designed to help curb the attacks.

The plan includes smart identity card or digital certificates that will authenticate the owners identity.

A White House official on Friday disclosed steps being made by the United States government to curb the growing number of identity theft and account breaches over the Internet, making online banking transactions safer and more reliable.

Based on the initial plan laid out by the White House, a voluntary identification system will be set up for data gathering, which will include input from expects and online users.

The data, according to government officials, will be used to put up a safer financial transaction over the Internet, which has been a target of constant cyber-attacks.

White House officials said that the use of smart identity card or digital certificate is one of the most viable options for the new scheme in online banking. The cards will be used by the account owners to authenticate the transaction avoid unwanted withdrawal of funds.

To date, financial transaction over the Internet is widely untapped and has a huge room for growth in the coming years. But this also makes it one of the most vulnerable targets of hacking attacks and other bogus schemes.

But many online privacy advocates and human-rights groups are worried by the announcement, saying that the government needs to be more sensitive in their actions to avoid violations of the rights of the online community.

“We don’t want a Big Brother tracking our every move online,” a privacy group said.

The government, on the other hand, said that technologies for creating such identifiers already exist and are already used in different ways by businesses, particularly banks – so it will not be an issue any more.


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