HSBC Online Banking Security Flaw Analyzed
As a US HSBC customer, the security that I see is different than the article describes.
The login process is fairly typical (username, password only), but in mid-July 2006, they changed the process so that they are entered on separate pages. I do not understand how this improves security, because the username is echoed back on the password-entry page. There are no additional interactive anti-replay attack features--the username/password form seems to have been simply split to two pages.
The biggest security feature that I have casually identified is that on the Online Bill Payment page, it is necessary to do a second authentication using a Java-based on-screen keyboard (which must be clicked with a mouse). This avoids a simple keystroke logger but is not beyond other attacks (for instance, it would be somewhat easier to shoulder-surf).