Absa introduces two-factor authentication to combat SIM-swap fraud

[mercurial]

That is so. It requires you to have data, and a connection.

But people are complaining about SMS being insecure. What to do?

It's the ISPs job to sort that out, not the banks. This whole thing is to prevent or lessen SIM swap fraud. Look, it's good that they're trying to do something, but I feel this is out of their jurisdiction. SIM swap fraud should never happen, so the ISPs need to address that.

 

[supersunbird]

That is so. It requires you to have data, and a connection.

But people are complaining about SMS being insecure. What to do?

Use a bank that generates a OTP on the app without a data connection required, or have a code generating dongle.

 

[Coasti]

It's the ISPs job to sort that out, not the banks. This whole thing is to prevent or lessen SIM swap fraud. Look, it's good that they're trying to do something, but I feel this is out of their jurisdiction. SIM swap fraud should never happen, so the ISPs need to address that.

It's not only about the ISP's quality of connection, its also about you being required to have data. Lets say you run out of airtime/data, easy you say, I just hop onto my pc and buy some via internet banking. No no, now you first have to request emergency airtime on your phone in order to validate your purchase of your airtime via internet banking. It's just absurd.