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Sending money via SMS doesn't sound very secure. Lending to a phone you can just throwaway, steal or clone doesn't sound very secure either. When do Kenyan hack
by dobbsbob 14y ago
Sending money via SMS doesn't sound very secure. Lending to a phone you can just throwaway, steal or clone doesn't sound very secure either. When do Kenyan hackers fraud this service out of existence
- PotatoEngineer 14y agoMaybe the market is small enough, and the transactions small enough, that the competent hackers are attacking other systems.
- i2pi 14y agoThe market is large enough, the transactions are relatively large, too. In Kenya, M-Pesa is by far, the #1 payments service, with nearly half the country using it. It grew acceptance as a replacement for the other way of remitting money from the cities to villages - busses. Prior to M-Pesa, bus drivers would act, for a fee, as money carriers, bringing income back from the cities to families back home. The competent hackers were, literally, brute-forcing the old system. Bus drivers are easier to compromise than mobile handsets and infrastructure.
- gusfoo 14y agoThe SIM is actually a little digital fortress. SIM Toolkit Applications are quite secure and it's not just a matter of intercepting the air-interface data and breaking A5/1.