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Telecom-based attacks such as SMS toll fraud and 2FA hijacking have evolved into a mainstream concern for CISOs.
Despite warnings that sending one-time passwords via text messages is a flawed security measure, companies continue to roll out the approach, especially in consumer-facing applications.
Making the option available only to paid subscribers — while also claiming SMS authentication is broken — doesn't make sense, some say. Is it a cash grab?
With names, email addresses, and mobile numbers from underground databases, one person in five is at risk of account compromise even with SMS two-factor authentication in place.