[LINK] Bank to offer SMS security option

[Adam Todd]

At 05:15 PM 10/02/2007, Malcolm Miles wrote:
>On Thu, 8 Feb 2007 11:04:29 +1100, you wrote:
>
> >>As a user of the NAB's SMS system, I am yet to ever experience a
> >delay, and the system does not rely on having a mobile phone. Go to a
> >telstra shop, or hardly normal, or even order online. Buy a nice
> >cordless phone, and make sure it has SMS capability. SMS can then be
> >delivered to your landline.
>
>You don't need an SMS-capable phone. If your phone isn't SMS-capable
>the text message is converted into speech and your phone will ring
>just like a normal phone call. The message will be read out to the
>person who answers the phone using Text-to-Speech technology.
>
><http://www.telstra.com.au/talkingtext/index.htm>

Ahh, except that means if you are actually using your Internet Banking from 
a mobile location, and you aren't near or don't have a land line, someone 
else might get your call.

That opens up the ability for a THIEF who breaks into your home, accesses 
your computer, discovers your Internet Banking but can't get an SMS message 
to unload your funds full access whilst you are out at dinner.

The Idea is that whilst at the dinner table in YOUR_FAV_ Fancy Restaurant, 
your phone beeps and you look at the display and it says "Hi, you want to 
transfer $1 million form your account, please enter this pin number.  Thank 
you.

Now you're going to scratch your head and say "Um, that's odd" and prevent 
the transaction.


Whereas if your home phone rings and Thief takes the call and retrieves the 
SMS, by the time you get home pissed and drunk and desperate for a romp 
between the silk sheets, you won't have a clue.

We you might if you were planning on paying YOUR_FAV Fancy Restaurant using 
Eftpos and the card rejects the transaction because you have no funds!


Now I've seen that happen!