Welcome to Community at BECU, a place for anyone who wants to talk about money, saving, investments and everything in between. Have a question or just want to get the community’s opinion on something? This is the place. It’s a great resource for peer-to-peer advice, access to the latest BECU news and behind the scene’s insights from BECU’s experts.
The security landscape keeps evolving and SMS, as a 2-factor security feature, is nolonger enough. Hackers can use SS7 to intercept SMS messages and access one-time pins. I hope BECU will look into implementing other 2-factor mechanisms. Perhaps Google Authenticator, U2F or RSA tokens.. https://www.wired.com/2016/06/hey-stop-using-texts-two-factor-authentication/
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Many banks in Asia and large financial institutions in the US, like Charles Schwab, Fidelity Investments, E*Trade and others are now offering 2-factor authentication for their online services. These features require a user to use a USB token or receive an SMS message on their cellphone, in addition to entering their password. This requires users to both know something (password) and have something (registered cellphone or usb token), in order to gain access to their account. The benefit is that if your password is compromised, a physical item is still required for a theif to gain access to online banking. Implementing 2-factor authentication at BECU would greatly enhance member online security.
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