Security and financial experts warn of "express kidnappings" as South Africans go cashless

[RudderVator]

Article seems to be implying that we better off with cell phone banking and 2fa...

Carrying access to your bank account from a cell phone seems like a risky thing.

Can't the hijacker (who has a gun) just take your phone, do a FORCED face scan/fingerprint and get into your phone and banking app, setup a beneficiary and transfer max from your account with 2fa?

Is there anything you can do to mitigate the above?

Duress code?

 

[system32]

Most banks these days won’t allow Online banking unless you have the app installed on a phone to authenticate the session.

Banks should allow using just the 2FA/information/messaging functionality as an option.

 

[FunkyPeas]

Banks should allow using just the 2FA/information/messaging functionality as an option.

SMS opens the door for sim swap fraud though.

 

[Swa]

Article seems to be implying that we better off with cell phone banking and 2fa...

Carrying access to your bank account from a cell phone seems like a risky thing.

Can't the hijacker (who has a gun) just take your phone, do a FORCED face scan/fingerprint and get into your phone and banking app, setup a beneficiary and transfer max from your account with 2fa?

Is there anything you can do to mitigate the above?

Firstly don't have a shortcut to it. Secondly carry a useless card with pin with you. A criminal isn't going to stick around examining things when they think they've just hit the jackpot.

I never liked the idea of having a banking app on my phone. FNB basically forced me into it telling me if I do not comply, they close the account. It is one of the requirements they said. Also, they no longer sms bank transactions, I have to open my bank app to see them.

Sounds like you were sold BS by a salesman.

Oh right, criminals are manufacturing firearms then? LMAO.

Today they are. But most firearms in circulation in SA were confiscated at some point. The problem we have again is enforcement and poor procedures.

 

[lkpat]

Today they are.

So how many 3D printed guns are used in murders in South Africa every year?