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I assume they have SMS as a 2FA option and that was the weak link?

• rvz 5y ago
  > SMS as a 2FA option I hope not, if that is true. The year is 2022 and companies managing >$100B in assets are STILL using SMS 2FA for protecting their life savings, despite SIM hijacking and SIM swapping still about. Quite pathetic really.
  • shmatt 5y ago
    These companies want more cash heavy users. Like those older than 50. There is absolutely no way my parents could figure out 2fa in any way other than phone call/sms. They would be cutting out the less technical crowd, which is exactly who they're trying to convince to buy in
    • AlexandrB 5y ago
      It's one thing to offer SMS in addition to other 2FA options. It's completely another when SMS is the only 2FA option at these institutions. See also: Canadian banks (at least the ones that even support 2FA of any kind).