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Read More: https://www.itproportal.com/features/why-its-time-for-banks-to-ditch-otps-for-good/
ITProPortal
13 December 2019

Why it's time for banks to ditch OTPs for good

Most experts in the cybersecurity industry can’t understand why banks are still using SMS OTPs to fight financial fraud. They have been rendered ineffective, inconvenient for users, and are susceptible to SIM swap or number-porting attacks, fake caller IDs, and call forwarding scams operated by dishonest customer service representatives at mobile carriers.

 

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