A Gartner report warns that security measures like one-time passwords and phone-based user authentication are no longer sufficient to protect online banking systems.

"Cybercriminals are using increasingly sophisticated tactics to outmaneuver security systems so they can steal customers' log-in credentials and pillage their bank accounts, according to Gartner analyst Avivah Litan, who wrote the report," writes Computerworld's Jaikumar Vijayan.

"Because any authentication method that relies on a browser can be attacked and defeated, banks should start using server-based fraud detection to monitor transactions for suspicious patterns, Litan said," Vijayan writes.

Click here to read the Computerworld story.