But as to the earlier claim that the 5 minute delay is causing AKATARIA to submit court documents late. Any judge would rank that along similar lines of "My dog ate my court documents." and give him short shrift for such an excuse. ⋮
Unless I am mistaken the delayed email voided the authentication code / token required by the bank to complete their authentication process and as a consequence of this the submission of court documents was delayed.
UK banks are moving to similar authentication process and for those naively using Virgin Media's email service this delayed delivery may cause issues.
The “Payment Service Regulations Act 2017” whichwill soon have been implemented by all UK banking services, will generate many more examples like this one. It mandates two factor authentication – meaning -
that in order to access your data or accounts, you'll have to take two or more independent actions in order to login and authorise transactions.
Over and above the obvious ID and Password which counts as 1 action, this could include -
1. Encrypted push notifications which are the slickest and most secure form of two-factor authentication. These alerts, which are sent through mobile banking apps, confirm the transaction amount and payee, and are authorised by fingerprint ID or other biometrics from a mobile device. Order your new smart phone now in time for xmas.
2. A code-generating device supplied by your bank.
3. A one-time passcode sent to you by text or email, which must be entered online for authentication. This is less secure than push notifications because messages can be hijacked. If you don’t have a mobile, codes can potentially be sent by call to landlines, but only a handful of providers plan to do this.
The most obvious flaw in the above strategy is that many bank customers do not have their own mobile phone, and many others live in parts of the country where reception is poor to non-existent.
The secondary flaw is that transmission of a message by text or email cannot be guaranteed within any given short period of time. If a crucial server or phone mast is out of action for more than a few minutes, the transaction will probably time out. I’m sure we have all received a text message many hours after it was sent!