Could .bank end Phishing?

Phishing attacks continue to pose a very real threat to banking institutions and, of course, their innocent customers, like you and me. Mikko Hypponen, of the anti-virus company F-Secure, has become a strong advocate of what could very well be a simple solution to the problem. The proposal is to create a new Top Level Domain (TLD) reserved for banking and financial usage only - .bank.

How does this protect me?
Firstly, the idea is to place major impediments in the way of any criminal intending to register a .bank domain … impediments like high registration costs, a strict verification process, and naturally, a requirement to prove that you are a financial institution. Compare this with the ease and anonymity involved in registering .com domains. The aim is to end up with a far more trustworthy list of banking domain names than we have currently. Anti-phishing tools can then implement much more accurate protection and detection mechanisms, thus making online banking a much safer endeavor for all of us. 
 

Read more about the idea on foreignpolicy.com