Can a piece of plastic make online banking more secure?

Despite the best efforts of banks and security experts, Internet fraud continues to cost consumers millions of dollars every year. But a new credit card sized piece of plastic has the potential to stop one of the most popular forms of online fraud; fooling consumers or their banks into handing over information that can be used to empty accounts.

This credit card sized piece of plastic that inventor Matt Walker hopes to stop Internet fraud cold in its tracks is the PassWindow, which is a finalist in the Asian Innovation Awards.

Instead of the expensive-to-distribute security tokens that some banks use to verify the identity of a consumer, the PassWindow can be built into your existing bank debit or credit card and operates in a simple manner.