this post was submitted on 14 Feb 2024
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SMS second factor is so bad! The really dumb thing in my opinion is the place that uses SMS to factor the most is banks. Now how dumb is that?
In the EU they have to use something stronger if available. SMS is only used if requested by the user.
I wish it were that way here in the United States. But sadly, nope.
Banks are certainly behind the times and 'bank-grade security' is a joke in terms of what authentication methods they offer. I understand that they are slow to change anything though.
My crypto wallet is more secure than my bank because I hold the keys myself and I am not nearly as large a target as a bank. Is it better to go after one person's money or one million people's money?
I see SMS as a simple deanon rather than a 2FA.