SMS

SMS messages, which are not encrypted, can be intercepted and read by fraudsters in a number of ways.

Banks move away from SMS OTPs in favour of app-based authentication methods

BANKS are pushing customers away from the less secure authentication method of SMS One-Time Passwords (OTPs), and promoting app-based methods instead.

Amex cardholders received erroneous text messages about temporary card suspensions on Thursday.

Companies & Markets

Amex apologises for SMSes to cardholders about temporary card suspensions

CARD issuer American Express apologised on Thursday (Apr 27) for SMSes sent out to cardholders about the temporary suspension of their credit cards.

Using SMSes is weak as an authentication factor, and users should be prepared to accept some inconveniences in exchange for stronger protections for their online accounts.

Telcos, Media & Tech

COMMENTARY

One-time passwords marked ‘Likely-SCAM’ could breed complacency

THE recent rollout of an SMS scam prevention initiative has hit some snags, with legitimate messages being marked as likely scams.

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