Not exactly MS related but I’m rather annoyed about it. Had a letter from TSB the other day informing me of new ‘Security’ measures for online banking. Read the letter and felt like headbutting a wall to see if that’d help drive the logic in. Decided against self harm as nothing about the new measure adds security in anyway. Put a complaint in and included if it goes LIVE on the 28th I’ll be looking for another bank.
Just had a phone call from TSB explaining all banks will be doing it as require by Finanicial Conduct authority…or another goverment corperation.
What am I ranting about. For added security we’ll needed to add MORE information to verify we are the account holder. TSB staff still referred to it as added two factor authentication. Now after you used the app on your phone or received a SMS message you need to enter the OTP to verify it’s you. Pretty standard nowadays.
The new hoop is after that you’ll have to enter your email address. Won’t get an email or anything it’s just for verification. As I politely explained to TSB in both my original complaint and over the phone just now it’s nothing more that a HOOP to jump through. Adds absolutey 0 to a persons account security.
OTP is the two factor authentication,2FA, code and is gained by access a persons mobile device. A device that will have access to a persons email and thus their email address. How is that more secure? If someone, not you, has access to your
Bank card number/long number on card
Security number on back
Bank account login
They then need your phone for the OTP the same device with your email on.
If someone has all the information and device to access that very information adding a million extra hoops would not increase security. All it’s going to do is annoy people.
People already fall for scams where they voluntarily give scammers their OTP. This hoop just means the scammers will ask for their email too. If someone is willing to give the scammer their OTP they’ll have concern providing their email address at the same time.
Great way to increase the number of scams after a vulnerable victim has just provided a scammer with their email address along with knowledge they a susceptable to being scammed. Watch the phishing emails flood in.
Complained to Financial Conduct authority. Due to Covid could take weeks before any response and won’t hold my breath on them pulling it and returning to the drawing board but worth a try.
Means I’ll be wasting banks time on phone complaining and trying to complete transaction over the phone instead of online.
Sorry about the rant. Thought it might please someone who feels the same way or point out how pointless it is to anyone that didn’t or hasn’t noticed.