An End To Bank-related Phishing

There’s no doubt that phishing has become a huge problem. If you legitimately bank online, use Paypal, or have an eBay account, it’s beyond my comprehension how you manage to tell the real e-mails and fake e-mails apart. But Mikko over at F-Secure has what seems like a foolproof plan to counter bank-related phishing scammers. Make a new top level domain called .bank.

This new domain would be exclusively available to banks and financial institutions only. To top it off, these domains would not cost $8.95 at GoDaddy. Mikko suggests a high price tag around the $50,000 mark to ensure that only legit businesses or really rich scammers can purchase a domain. Banks would pay the 50k premium in no time to ensure that customers can log on to their sites securely. I think this idea is a surefire way to fight phishing. Your thoughts?

Masters of Their Domain [Foreign Policy via Slashdot]