The chip-TAN procedure constitutes a development of the electronic TAN procedure (eTAN) and provides even more security for online banking. What is needed is a special TAN generator that can read the data from the chip on the card not only but is also able to detect and evaluate animated graphics. This combination of map data and the generated code of the bank fraudsters can bite on granite. Neither phishing or trojan that redirect transfer orders to other accounts here have a chance.
Animated bar graph instead of check digit
The difference and hence the new in relation to eTAN method is that chip to the TAN-variant no more data have to be entered into the generator. Instead of a control number from which the device generates the transaction number, the bank will display an animated bar graph. To put it metaphorically: It flickers on several beams. Not arbitrarily, but according to a clearly defined pattern that is based on the remittance or transaction data. To obtain a tan, the card must be inserted into the bank TAN generator and the generator are held to the screen. The device processes the code and then calls the account number you want to transfer the money and the amount. Both data need to be confirmed.Only then the generator displays the transaction number. It is only valid for the current operation and can not be used for subsequent transfers or standing orders.
The safety aspect
Since the TAN is based on the bank account, the transaction amount and the key data on the chip, it is of very little scam if they should get hold of one of the numbers. The attempt to attract customers to a fake banking page and to persuade them to enter the personal identification number, the account or customer number and a TAN running into space. Similarly, with attacks that take place over a virus and allow the scammers to switch between bank and customer (man-in-the-middle). Would they change the data receiver, the transaction number would be worthless.Therefore the chip Tan is one of the safest method. The only downer: The generator is not usually free. But ten to 15 euros for the security are certainly a good investment.