Slashdot Mirror

← Back to Stories (view on slashdot.org)

Australian Telcos Declare SMS Unsafe For Bank Transactions

Posted by timothy on from the txt-me-ok? dept.

littlekorea writes "Australia's telcos have declared that SMS technology should not be used by banks to verify identities for online banking transactions, in a bid to wash their hands of culpability for phone porting hacks. But three of Australia's largest four banks insist they will continue to use SMS messages to carry authentication codes for transactions."

1 of 42 comments (clear)

  1. Re:Not surprised... by norpy · · Score: 4, Informative

    They also seem to think that inputting your password with an on-screen html keyboard using your mouse will provide *ANY* extra security.

    The one thing that i'm happy about is that unlike commonwealth bank, they are not integrating facebook with their online banking system.
    Just let that one sink in a little bit.... integrating FaceBook with your online banking