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One-timepasswords(OTPs) are everywhere in todays digital world.
An OTP is a system-generated code typically made up of digits or letters or a combination thereof.
OTPs are typically used in conjunction with conventional, long-lasting passwords.
An OTP is only good for a single login session.
OTPs were first introduced to enable a risk-based authentication approach.
Senior Director of Global Advisory at BioCatch.
This additionalsecurityfeature reduces the risks associated with static passwords, improving overall account protection in an increasingly digital landscape.
SMS phishing involves deceiving people into disclosing their OTPs.
Malware infects devices and captures OTPs as they land on a genuine users machine, like a smartphone.
Consumers are also being targeted while online shopping.
The e-commerce giantAmazon, for example uses OTPs to verify important deliveries.
Recent cases have show Amazons system doesn’t always stop thieves from stealing packages.
Bank on it!
But SMS was never quite designed to be a future-proof authentication mechanism.
A potential solution lies in the adoption of behavioral biometric intelligence.
Additionally, it enables a more customer-centric approach, ensuring a smoother and more secure user experience.
Financial institutions must be careful not to make the login process too complex or time-consuming.
A users online behavior leaves behind digital breadcrumbs, establishing individualized patterns.
OTPs are vital for online security, but they’re not foolproof, especially against advanced cyber threats.
Finding the right balance between security and convenience is crucial.
We’ve featured the best encryption software.
The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc.
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