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> Thing is, if making the choice to have two-factor authentication for the bank is rationally wrong (i.e. the cost of security exceeds the damage of compromise)
by perlgeek 11y ago
> Thing is, if making the choice to have two-factor authentication for the bank is rationally wrong (i.e. the cost of security exceeds the damage of compromise), this isn't actually helping?
But it isn't rationally wrong, from the perspective of the bank. The bank isn't paying for the user's time while using 2fa; for the bank the cost is "only" creating and operating the 2fa system.
Likewise if you are an ISP or a datacenter operator, security best practices might actually make economic sense, both because of the higher thread and the relatively high stakes.
- obastani 11y agoThe article is talking about total economic costs (i.e., to all users, the bank, etc.), not just from the perspective of the banks. In other words, we as a society may lose more by implementing "best security practices".
- manarth 11y ago'for the bank the cost is "only" creating and operating the 2fa system.' Plus the loss of goodwill, for the customers who aren't happy with the added friction of 2fa.