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"Telcos declare SMS 'unsafe' for bank transactions" https://www.itnews.com.au/news/telcos-declare-sms-unsafe-for-bank-transactions-322194 https://www.itnews.co

• KennyBlanken 4y ago
  It's not just SMS that is the problem. Cell phone accounts were never intended to serve as high security authentication sources. It's laughably easy to take over a cell phone account, and once you do so, you likely crack open the victim's finances like an egg and leave them almost powerless to do anything about it before damage is done.
  • bigiain 4y ago
    That's a _feature_ for the telcos. They want you to be able to walk into a store, grab a new phone, and walk out several hundred dollars lighter with your old number already working on your shiny new phone. They want to make it as easy as possible to do that. They never signed up to be the gatekeepers to your digital life, and there's nobody paying them to do that. Expecting them to make their sales experience worse than their competitors just because some bank or crypto exchange can't work out a decent way to authenticate their customers is insane.
    • computerfriend 4y ago
      Not really, if I value it and would pay a higher price to use a telco that safeguards my number. Unfortunately, this (like much of security) is invisible to the consumer until it is too late.