“The agencies consider single-factor authentication... to be inadequate for high-risk transactions involving... movement of funds...”
- Federal Financial Institutions Examination Council
Background
Online trading in precious metals is all about moving fortunes in and out of accounts and currencies within the virtual world. Clearly with so much value at stake, the level of risk is high.e-Bullion’s online service (like many of its competitors) allows customers to login and manage their investments in precious metals. To set themselves apart from the competition and insulate their customers from security risk, e-Bullion selected CRYPTOCard to deliver strong Two-Factor Authentication to its customers.e-Bullion (or electronic bullion) is an international electronic currency fully backed by physical precious metals stored on behalf of account holders. e-Bullion can be used for international trading of precious metals; accounts payable and accounts receivable; online instantaneous payments to other e-Bullion account holders; or as an investment vehicle to protect assets from financial destabilizations, just to name a few. The need to positively identify customers before allowing access to assets is obvious.
CRYPTOCard is Preferred Access Method
Previously, the e-Bullion System, like its competitors e-Gold and Goldmoney, allowed users to create an account accessed with only a username and password. Recognizing the inherent riskiness in this scenario, e-Bullion has turned good security into a competitive advantage by being the first in its industry to offer customers the preferred method of login using CRYPTOCard’s RB-1 tokens to deliver strong Two-Factor Authentication. |
