CHARLOTTE, N.C., Jan. 4 -- An Online Banking security feature that helps prevent fraud and identity theft expanded to the Northeast in December, Bank of America announced today.

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The free service, called SiteKey(TM), provides an extra level of authentication to enhance security. Customers pick one of thousands of images, write a brief phrase and select three challenge questions. The customer and the bank pass that information securely back and forth to confirm each other's identity.

Using SiteKey is like getting a safe deposit box that takes two keys to open. Before the customer and the bank agree to open the box together, they confirm each other's identity. Industry experts have recognized the bank as the first major financial services company to provide this added level of security.

Bank of America has the most online banking customers in the world, with 14.6 million subscribers and 7.2 million online bill payers. Bank of America customers make up more than 34 percent of all online bankers and more than 58 percent of online banking bill payers in the United States.

The most recent states to receive SiteKey were Connecticut, Massachusetts, Maine, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. SiteKey is now available throughout the country, except in Washington and Idaho, where it will launch later this year. The free service is moving from an optional to a standard part of sign-in. Customers will be told about the change through onscreen messages in advance.

"We're the first major bank to offer this extra level of protection and we're making it a standard part of signing-in to help protect all of our Online Banking customers from fraud and identity theft," said Sanjay Gupta, e-Commerce executive. "Signing up for SiteKey only takes a few minutes, and it's easy to use because you don't need extra hardware or other equipment."

SiteKey's image, personal message and challenge questions work together to help:

- Confirm the Web site's validity. When customers log in to Online

Banking at http://www.bankofamerica.com, they can click on the SiteKey

button to see their secret image and phrase. If the image and phrase

don't appear, the customer could be at a fraudulent site. This

capability targets a fraud called spoofing, and will help ensure

customers are not fooled by fake versions of bankofamerica.com.

- Protect accounts. Someone trying to access an account from an

unrecognized computer must answer a challenge question correctly. So

even if a customer's ID and passcode have been stolen through spyware

or a phony Web site, the thief still would have to answer a challenge

question to get access to the account.

Also in December, the bank took an additional security step to help customers identify fraudulent Web sites by posting the Bank of America Toolbar, powered by EarthLink, on the home page for free. The toolbar provides an icon that changes colors as the consumer surfs the Internet, letting the person know with a red, yellow or green symbol whether they've landed on what could be a dangerous Web site. It also alerts consumers before they go to a Web page that is on a list of known phisher sites. The toolbar also includes a pop-up blocker tool, which prevents advertising windows from appearing in the consumer's main browser window.

SiteKey and the Bank of America Toolbar are part of an umbrella of security measures that includes a zero liability guarantee that protects customers from fraud losses, two-tiered authentication for funds transfers, and the capability for customers to stop receiving paper statements to reduce risks associated with sending sensitive information through the mail.

Bank of America also has enhanced the privacy and security sections of its Web site to include more tips about online and offline security. The site is at bankofamerica.com/privacy.

Here are more steps consumers can take to prevent fraud:

- Use safe computer behavior. Install protection such as firewalls, anti-

virus software and anti-spyware software. Keep the protection and

browsers updated. Download the Bank of America toolbar. Don't download

materials from unknown senders. Use unique passwords that are hard to

guess and change them often.

- Confirm the validity of all requests for sensitive personal, financial

or account information, particularly if they are made with an urgent or

threatening tone. Consumers who get the request through e-mail should

open a new browser window and type in the referenced Web address rather

than clicking on links provided within the e-mail.

- Monitor accounts, credit reports and credit scores. Notify banks and

credit agencies immediately of any unauthorized transactions.

- Do not share your IDs, passcodes or ATM passwords with anyone.

For more information about safety and security, go to http://www.bankofamerica.com/privacy.

About Online Banking

Bank of America is a leading provider of online financial services, and its online site, http://www.bankofamerica.com, has received widespread recognition. Bank of America has the most online bankers in the world, according to Financial Insights. The site is among the top 30 of all U.S.- based Internet properties in terms of unique visitors monthly, and No. 1 among business and finance sites, according to comScore Media Metrix. Bank of America ranked No. 1 for online customer experience among top 10 banks, including the best online customer support and online bill pay satisfaction, according to Keynote Systems' Customer Experience rankings in August 2005. Bank of America ranked No. 1 in Javelin Strategy & Research's Identity Fraud Safety Scorecard in November 2004. Global Finance magazine named bankofamerica.com the best consumer online banking site and the best information security initiatives in North America. BusinessWeek called the SiteKey(TM) security service one of the best products of 2005. In the spring of 2005, the site was ranked among the Forbes Best of the Web. In the summer of 2004, The Customer Respect Group ranked Bank of America No. 1 among commercial banks for the way it treats customers online and Vividence ranked bankofamerica.com among the leaders in experience for customers and prospective customers. The Gomez Scorecard ranked the Small Business Web site No. 1 in the Single-Owner Home-Operated (SOHO)/Micro category. comScore Networks, Inc. called Bank of America "the clear leader" in the rate of adoption of online bill payment and the leader of the industry based on overall number of active online customers.

Source: prnewswire