Techlore Surveillance Report Can You Trust Bank Security?
Dec 1, 2023
Topics discussed in this podcast include bank security measures, protecting devices while traveling, private shopping online, favorite anime recommendations, and the role of offshore banking in privacy and money laundering.
AI Snips
Chapters
Transcript
Episode notes
Banks Focus On Backend Over User 2FA
- Banks invest heavily in backend security and rate-limiting even if user-facing 2FA options are limited.
- Regulatory complexity and legacy systems explain slow adoption of user-centric 2FA like TOTP and hardware keys.
Request Stronger 2FA From Your Bank
- If you need stronger account protections, ask your bank for TOTP or a hardware security key.
- Use rate-limiting and back-end controls as additional protections alongside better user 2FA when available.
Regulation Drives Bank Technology Choices
- Banking regulations are extremely complex and require dedicated legal staff to interpret.
- This regulatory burden shapes how banks design systems and slows roll-out of new user-facing features.