That paper is interesting reading and it good to confirm that I am not paranoid. I came across 3D secure a couple of months ago while buying something on the web and it set all kinds of alarm bells ringing as it looked very much like a phishing site.
There was no way I was giving it any personal details as the whole thing directly contradicted normal security procedures. Banks seem to be particularly prone to confusing their customers with random online identities. For example, BOI's online banking has been 365online.com for years.
This is just another way of shifting the liability for online fraud away from the bank/merchant and onto the customer.
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