Analysis of potential risks of SMS-based authentication

Abstract

The pervasive use of mobile devices and the omnipresence of the Internet have ushered in a transformative era. Nearly everyone, regardless of age, possesses a mobile phone, bridging generational gaps in digital interaction. Mobile phones have become highly personal, with users guarding them zealously. Service providers recognize this intimate relationship, offering an opportunity to enhance security. Traditional password-based security is vulnerable to data breaches, prompting the adoption of mobile phones as a more robust platform for safeguarding digital assets. This shift has also facilitated the development of digital identification applications, reducing reliance on physical identity documents. Additionally, mobile banking applications are replacing physical payment cards, enabling secure transactions. The ascendancy of mobile payment solutions is diminishing the role of physical cash and wallets. In summary, mobile devices have reshaped security and daily activities, becoming the cornerstone of our digital existence, offering higher levels of security, convenience, and efficiency.