Props to these banks who use robust security authentication methods (as should be standard practice). Any bank which is stupid enough to NOT employ sound authentication is asking to be defrauded and, after being burned by fraud, will quickly correct their inadequate practices.
Extract from the linked article:
Then again, Apple could fix this by demanding stricter verification from banks. That’s the point made by Mike Dudas, a former Google Wallet executive.
“It is both a bank and an Apple problem... but since Apple controls the platform, they can dictate the best practices,” said Dudas, who’s now at the startup Button.
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I think it interesting that, as a source, the writer goes to an Apple competitor’s former executive (the poorly received and failing ‘Google Wallet’).
One would hope that to be so in a sane world, but in the current bizzaro world, it is often more expensive for the firm to fix the security problem than it is to suffer the consequences of fraud.