Even telco’s says SMS is not secure

I have meet very many banks and mobile network operators in discussions on secure mobile authentication and how to secure digital transactions. Seldom they admit that SMS is insecure (especially not mno:s).

In Australia the three big mno’s last year declared the technology as insecure, saying that  SMS is not designed to be a secure communications channel and should not be used by banks for electronic funds transfer authentication. Read article.

So, OTP’s using SMS is an expensive method and not secure, so of course we will see a move to new and innovative mobile authentication solutions like the best I think so far, Mobile BankID in Sweden, very user friendly, very secure and today in use by the 5-6 largest banks in the country.

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