I’m not sure how it works the way where you live but where I live, the way the banking apps are implemented completely violate MFA. They rely on SMS verification which is absurd since if you’re phone is already compromised, no doubt your SMSes are too. There’s no true multi-device authentication in place and this has led to a huge number of victims being scammed after their devices get compromised by a phishing attack.
The desktop and phone are both insecure, proper security should not have all your eggs in one basket.
Well, yes. But then again, I would trust my GrapheneOS phone not getting compromised over 3 linux devices. MFA is not some ultimate solutions and it is a pain to use.
I mean sure, but that’s not the case for the majority of the user base of these banking apps. Is it the most secure? No but it’s way better than it is right now.
So what is the case for most users? Are normal android phones getting compromised (in a way true 2FA would help) often enough it is an issue? I honestly haven’t seen any statistic regarding this and anecdotally I don’t know anyone whose internet banking was compromised. Whether on phone or desktop.
Your phone has likely much better security for your banking apps than your computer, unless you run really niche setup like QubesOS.
I’m not sure how it works the way where you live but where I live, the way the banking apps are implemented completely violate MFA. They rely on SMS verification which is absurd since if you’re phone is already compromised, no doubt your SMSes are too. There’s no true multi-device authentication in place and this has led to a huge number of victims being scammed after their devices get compromised by a phishing attack.
The desktop and phone are both insecure, proper security should not have all your eggs in one basket.
Well, yes. But then again, I would trust my GrapheneOS phone not getting compromised over 3 linux devices. MFA is not some ultimate solutions and it is a pain to use.
I mean sure, but that’s not the case for the majority of the user base of these banking apps. Is it the most secure? No but it’s way better than it is right now.
So what is the case for most users? Are normal android phones getting compromised (in a way true 2FA would help) often enough it is an issue? I honestly haven’t seen any statistic regarding this and anecdotally I don’t know anyone whose internet banking was compromised. Whether on phone or desktop.
Yeah, SIM swaps are a concern too.
The phone is not insecure because of all eggs on basket.
You say “security” I say “a bug that won’t let me log in”. Which is it?
Which is the point. Why do we need this security when the most virus riden PC can access my banking website.
That’s a good point, time to ban banking websites and only allow people with locked-down phones to bank.
There are no banking apps on my computer.