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It's rather sad that Canadian banks still view SMS as the best way forward. They'll text you, they'll email you, they'll validate over the phone... all of whic
by cik 7y ago
It's rather sad that Canadian banks still view SMS as the best way forward. They'll text you, they'll email you, they'll validate over the phone... all of which are really this same problem.
I'm waiting for the days our banks will accept multiple 2FA solutions.
- smnrchrds 7y agoAnd when you (unavoidably) get hacked, they tell you it's your fault and that it sucks to be you, because you are not getting that money back. https://www.cbc.ca/news/business/banks-deny-compensation-online-fraud-security-1.5322982 https://www.cbc.ca/news/business/banks-deny-compensation-onl...
- nothrabannosir 7y agoThis is insane. How are banks not liable for fraud in Canada? The incentives couldn't be worse.
- cik 7y agoTell me about it. The whole thing makes me cringe. Frequently I wonder if the goal is just to have enough insurance, such that when people and their money are separated, life is fine.
- asdfasgasdgasdg 7y agoThat's really surprising. In the US, the banks are responsible for fraudulent transactions.
- cbhl 7y agoThe banks already know what happens when you issue every customer a 2FA token, because they issue you a bank card. You have to verify the customer is who they say they are before giving them the token, and have processes for dealing with a lost or stolen token.