Reducing Identity Theft Using One-Time Passwords and SMS
Akshay Awasthi · EDPACS · 2015
Two-factor authentication is a powerful tool for reducing identity theft because it interferes with criminals’ ability to impersonate authorized users of financial systems and other targets. This article explores the value of sending time-limited authentication codes to authorized users via Short Message Service (SMS) text messages to an authorized user’s registered mobile phone. This research includes details and summaries of two surveys and a series of interviews with security experts. In general, the consensus of the contributors to the analysis is that SMS is a cost-effective method for reducing impersonation when accessing online resources, especially in the financial industry.