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But isn't that what 3D secure and SecureCode are supposed to solve? They confirm the customer gave personal authorisation. They can offer it only with those.
by GekkePrutser 4y ago
But isn't that what 3D secure and SecureCode are supposed to solve? They confirm the customer gave personal authorisation. They can offer it only with those.
- eru 4y ago'Supposed' being the keyword here. The last time I looked into them, they weren't actually very secure.
- sofixa 4y agoMaybe it depends on the country, but here in the EU with the latest regulations we have MFA for payments, with either an SMS, or authorising in the bank's app all payments over a certain sum. So the merchant, the payment processor and the bank are a 100% sure it's you. The only case remaining is "i did initiate the transaction, but the merchant scammed me by not providing what was agreed".
- eru 4y agoWell, SMS is not really secure. Eg it's relatively easy to use social engineering on the phone company.
- sofixa 4y agoYou need to steal someone's bank card, know their phone number and operator, socially engineer your way through it, execute a payment and validate it with the code received by SMS, before the victim realises either their card is missing or their SIM card no longer works? That's a stretch, and in any case that's why most banks do MFA with their app.