12 Dec 2013

Banks shouldn’t rely on mobile SMS passcodes, security firm says

Author: BibbsPrince943 | Filed under: About

A widely used security feature intended to protect access to online bank accounts is becoming increasingly ineffective, as cybercriminals develop advanced malicious software for Android devices, according to a report released Wednesday. Many banks offer their customers two-factor authentication, which involves sending an SMS message with a code that’s entered into a Web-based form. The code expires in a few minutes and is intended to thwart cybercriminals who have a person’s login credentials.

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Banks shouldn’t rely on mobile SMS passcodes, security firm says

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