>Phones are used as authentication devices for bank transactions. If cellular providers have to go through all the same audits of controls as banks and share th

>Phones are used as authentication devices for bank transactions. If cellular providers have to go through all the same audits of controls as banks and share the same fiduciary liabilities that may raise the bar for phishing attempts. That may also raise prices massively. I prefer that mobile carriers get dumber (collect less info) and less regulated, not smarter and more regulated. If your business relies on SMS for authentication, you are liable for all the fallout of using an insecure channel. It's the bank's job to secure your funds, not a mobile carrier's. Let's keep it that way and make it more clear to consumers and businesses.