Comment by jonathanstrange
5 days ago
My bank pestered me so much to use their app that I eventually caved in. Ironically, they claim it's more secure than normal internet banking from the PC with 2-factor authorization, even though they send the SMS token for in-app transfers to the same phone as the app...it makes no sense.
Assuming your phone cannot be trivially unlocked by a thief, it likely is safer to bank on it than on a computer.
Because unless your desktop is dedicated to banking, there's always the chance that one of your other activities will install malware. If you don't use FDE (the majority of people) and you saved your banking password in the browser rather than a password manager (likely a scary amount of people), then theft is also an issue.
Neither of those things are really a problem on a mobile device.
The banking app _is_ the malware. It interferes with the normal use of your mobile device. For example, you can't use developer options to speed up the UI animation speed if you want to access your bank account. You can't install any app you want if you want to access your bank account. etc...
The EU two years ago rolled back all their proper OTP 2nd factor logins and now exclusively allow their EU app otp or sms
it's so obvious they need backdoor access it's not even funny.
Who is "they", and what do you mean by "backdoor access" to your bank account?
silly take.
The state requires this as single sing-on to several other entities. By owning both your password (which they have by definition, it's where you log in) and the 2nd factor (it's an algo on their app, conveniently backed up on their servers).
It's already public five eyes did worse in the past. This is very much in their alley.
What what reason you would have to REMOVE security features you already had in place?