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| News Archive 200705.10.2007 The following article highlights the risks involved in sending One-Time-Passwords (OTPs) via SMS to an online banking user's mobile phone. Fraudsters in South Africa are obtaining an online banking user's customer and mobile phone number. Then they arrange a "SIM card switch" by a conniving assistant at a Point-of-Sales from a mobile operator. As a result the OTPs are re-routed without the online banking user's knowledge to a different phone with the "new" SIM card. Valimo's mobile signature solution featuring the Valimo Mobile Authentication Client prevents such an attack by linking the authentication process to a digital signature, that can only be generated with the original SIM card. Source:  Back to news topics
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