Report Reveals Growing Trend of Fraudsters Intercepting SMS-Based Verification. Financial institutions have historically relied on one-time passcodes as a primary authentication control for their accountholders. But OTP verification is less reliable as fraudsters increasingly exploit SMS-based verification weaknesses to carry out account takeover and payment fraud schemes.
First seen on govinfosecurity.com
Jump to article: www.govinfosecurity.com/one-time-passcodes-are-gateway-for-financial-fraud-attacks-a-31341
