SiteKey is a web-based security system that provides one type of mutual authentication between end-users and websites. Its primary purpose is to deter phishing.
SiteKey has been deployed by several large financial institutions since 2006, including Bank of America and The Vanguard Group.
The product is owned by RSA Data Security which in 2006 acquired its original maker, Passmark Security.
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SiteKey uses the following challenge-response technique:
SiteKey is designed to prevent users from disclosing their login credentials to a phishing site. The rationale is that a phishing site wouldn't have the SiteKey info for a user. The obvious flaw in the design is that a phishing site can get the correct SiteKey info from the genuine site, then serve it to the user, "proving" its legitimacy[1]. SiteKey is thus susceptible to a man-in-the-middle attack.
It also requires users to keep track of more authentication information. Someone associated with N different websites that use SiteKey must remember N different 4-tuples of information: (site, username, phrase, password).