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SMBC to step up online banking security with new password system

TOKYO, Japan - Sumitomo Mitsui Banking Corp. will step up computer security efforts for customers of its Internet banking by introducing a new system that automatically changes a password, which can be used only once, every minute, the bank said on Jan. 12. The new ''One-time Password'' system, to be introduced next month, will provide applicants from the bank's 6 million online customers with a device (in photo) incorporating software to automatically change six-digit passwords for them. (Kyodo)