How safe is SMS OTP?

How safe is SMS OTP?

OTPs are created within an app running on a user's device—rather than sent via SMS message—so they are inherently more secure. However, OTPs are still vulnerable to man-in-the-middle attacks, in which a hacker phishes the user's OTP.

Why SMS OTP is not secure?

Once the OTP SMS is received, the user types it in the transaction interface and he is only then able to finalize his purchase. ... While a safe app will intercept a SMS OTP to facilitate transactions and make them fast, a malicious app will intercept it in order to commit banking fraud.

Are OTP safe?

Why is a one-time password safe? The OTP feature prevents some forms of identity theft by making sure that a captured user name/password pair cannot be used a second time. Typically the user's login name stays the same, and the one-time password changes with each login.

Why SMS is not safe?

SMS text messages were already the weakest link securing just about anything online, mainly because there are tens of thousands of employees at mobile stores who can be tricked or bribed into swapping control over a mobile phone number to someone else.

What triggers OTP?

The One Time Password (OTP) process is a normal security measure that triggers when you access from an internet location (IP address) that was not previously recorded.

What are the disadvantages of OTP?

Pros and cons of one-time passwords at a glance

Advantages	Disadvantages
No danger that a stolen password can be used for multiple sites or services	Security tokens can fail or break
Greater security for users	Process of OTP password generation can be cumbersome

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Are SMS messages private?

With SMS, messages you send are not end-to-end encrypted. Your cellular provider can see the contents of messages you send and receive. Those messages are stored on your cellular provider's systems—so, instead of a tech company like Facebook seeing your messages, your cellular provider can see your messages.

Is SMS safer than email?

Text messages (also known as SMS, short message service) and email are both safe, but have limitations to their security and privacy. It is extremely unlikely an individual text message would be read, and it would take high level system administrator access to do it. ...

What is the importance of OTP?

The OTP is sent to the account user via an SMS, email, or push notification. A generated OTP is only valid for a short period. The primary purpose of having an OTP process is to add an extra layer of authentication to your web-based service, to protect against fraudulent login attempts.

Is it possible to do away with SMS OTP?

• As smart devices become more and more ubiquitous, myriad new authentication methods will become available. From push-to-approve to biometrics, such as fingerprint scans, retina scans or even voice recognition, safer and more convenient choices will make it easy to do away with SMS OTP.

Is it safe to use app based OTP?

• App based OTP thus puts SMS OTP out of the picture and makes it only device dependent. This makes it difficult for a hacker to gain access to your account through SIM duplication/reading SMS etc. Hence, strengthening your personal security. Here are links to a few applications.

Which is better SMS or OTP for authentication?

• Hoff: Despite these security issues, using SMS OTP as a second factor is still better than simply relying on the username/password combo. For this reason, most companies haven’t urgently migrated to other authentication methods. However, I would expect this migration to take place over time.

When is SMS OTP used to commit a crime?

• SMS OTP is when this OTP arrives via text message on your device and is app based when an application on your smartphone generates it. Every alternate day, there is a pathetic case in the nation where a fake SIM card is involved/used as a tool to commit a crime. The reason is improper KYC (Know your customer) procedure and misuse of SMS OTP.