Secure Online Testing - Oxymoron?

With the advent of internet, many have explored its application in testing environments. But somehow we get stuck in the mindset that if a test is delivered via the internet it cannot be secure or that we are "giving up" something. I wonder if this is same mindset that could not imagine ATM's ever supplementing and in many cases replacing traditional banks with live tellers. What about online banking? Is that not a useful tool in our daily lives? I believe that the biggest obstacle to secure online testing is not the technology but our own limiting beliefs. If the technology is secure enough for online financial transactions then why not secure, online testing for even high-stakes exams?