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Apple’s New iOS Could Make Users More Vulnerable To Banking Fraud

July 5, 2018

Via: Pymnts

Apple’s new iOS 12 includes a security code auto-fill feature that according to a researcher makes customers more susceptible to banking fraud.

A report in BGR cited Andreas Gutmann, a researcher at OneSpan’s Cambridge Innovation Centre, saying that automatically entering the security code users get via an SMS makes them more vulnerable because human validation is a key step when using two-factor authentication. What’s more, the researcher contends the auto-fill feature is a big issue for authenticating transactions. With two-factor authentication in common with online banking apps Gutmann argued users are more exposed to banking fraud. The researcher, noted the report, said scammers would be able to trick a user into transferring money or could make them more susceptible to man in the middle, phishing, social engineering and other hacks.

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