this post was submitted on 20 Dec 2024
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My bank prides itself being the first in the country to support yubikeys for 2fa. I was so happy until i learned it's just for logging in, transactions are still confirmed by SMS or their app. And security experts all say it's better this way, using a regular 2fa solution would be insecure because you wouldn't know what you're confirming.
There really is no hope.
It's definitely possible to have a hardware token which allows confirming the transfer details - https://www.manua.ls/nationwide/card-reader-security-for-internet-banking/manual
I'm not defending that madness, but that device doesn't show who is the recipient. The argument was that this is protection against phishing sites pretending to be a bank, proxying your connection but sending it to a different recipient.
Makes one wonder how much the user has to fuck up to end in such a scenario, and of it's really worth transmitting everyone's financial data in almost plain text over the air for this