Why SMS OTPs Are No Longer Safe: Unmasking the Vulnerabilities and Shocking Fraud Statistics
SMS one-time passwords (OTPs) have long been a go-to method for two-factor authentication (2FA), praised for their simplicity and accessibility. However, growing evidence reveals that SMS OTPs are riddled with vulnerabilities, enabling sophisticated fraud schemes that cost businesses and consumers billions annually. Let’s dissect the risks and examine the staggering scale of these threats. Key…