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The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

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11–20 of 64 posts

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#11
> Passkeys, particularly when bound to a physical security key

And _only_ when bound to a physical security key. Unfortunately by tying into the marketing of passkeys, there is going to be a pervasive assumption that ecosystem/on-device passkeys are just as secure.

Overall a good set of points, and I think it highlights the issues with a lot of the lauded 'convenience' factors in the Apple ecosystem.

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#12

> Passkeys, particularly when bound to a physical security key And _only_ when bound to a physical security key. Unfortunately by tying into the marketing of passkeys, there is going to be a pervasive assumption that ecosystem/on-device passkeys are just as secure. Overall a good set of points, and I think it highlights the issues with a lot of the lauded 'convenience' factors in the Apple ecosystem.

> Unfortunately by tying into the marketing of passkeys, there is going to be a pervasive assumption that ecosystem/on-device passkeys are just as secure.

Passkeys are an improvement over passwords. Security keys have a place for high security applications like enterprise deployments or the security paranoid. Passkeys stored on security keys can be trivially made worse by allowing users to set bad PINs (like 0000). If you use an iPhone and iCloud Keychain, iOS won’t permit you to store or use Passkeys with such an obvious passcode, but a Yubikey 5 will.

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#14
post #2

This is not a compelling argument that 2FA is reduced to 1FA. You need either: something you have (phone) and something you are (face), OR something you have (phone) and something you know (passcode). In either case, there are still two factors. For a criminal to perform shoulder surfing and theft, more things must go right for them than to do either individually.

> something you have (phone) and something you are (face), OR something you have (phone) and something you know (passcode).

Thank you for breaking it down like this. The bottom line is that if you don’t have your phone, you can’t access your accounts. That is a massive risk factor - particularly while traveling. That tells me that passkeys and password managers are not a viable security solution.

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#15
What I missed from the article is the usual: biometric authentication is not secure.

https://www.youtube.com/watch?v=tJw2Kf1khlA

(Yes, I'm linking YouTube because unlike popular belief, some channels are actually informative, or some make it easy for us to understand the content.)

I would never use my fingerprint for authentication, because it's a flawed concept. The problem is, that your fingerprint is not a password. It's more like a username. That's because you leave your fingerprint everywhere, it's practically public information. The same can be told about your face.

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#17
post #2

This is not a compelling argument that 2FA is reduced to 1FA. You need either: something you have (phone) and something you are (face), OR something you have (phone) and something you know (passcode). In either case, there are still two factors. For a criminal to perform shoulder surfing and theft, more things must go right for them than to do either individually.

> something you have (phone) and something you are (face), OR something you have (phone) and something you know (passcode). Thank you for breaking it down like this. The bottom line is that if you don’t have your phone, you can’t access your accounts. That is a massive risk factor - particularly while traveling. That tells me that passkeys and password managers are not a viable security solution.

Exactly, your phone can break or get stolen any time. Plus I just don't want to limit myself to a single device.

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#18

The article starts with this description of 2FA: > an electronic authentication method in which a user is granted access to a website or application only after successfully presenting two or more distinct types of evidence (or factors) to an authentication mechanism. and concludes with (emphasis mine): > For the average user, the smartphone has become a single point of failure, where the theft of one device and one p…

Also in-person theft is both something our civilisation understands and has adapted to, and it does not scale. So it's never going to be a problem the way say password re-use is or many other maladies from the use of "passwords" for online security.

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#19
post #12

> Passkeys, particularly when bound to a physical security key And _only_ when bound to a physical security key. Unfortunately by tying into the marketing of passkeys, there is going to be a pervasive assumption that ecosystem/on-device passkeys are just as secure. Overall a good set of points, and I think it highlights the issues with a lot of the lauded 'convenience' factors in the Apple ecosystem.

> Unfortunately by tying into the marketing of passkeys, there is going to be a pervasive assumption that ecosystem/on-device passkeys are just as secure. Passkeys are an improvement over passwords. Security keys have a place for high security applications like enterprise deployments or the security paranoid. Passkeys stored on security keys can be trivially made worse by allowing users to set bad PINs (like 0000). I…

Passkeys are improvements over passwords in that login/password tuple is replaced by a single string.

Everything else, including hardware tokens, is marketing vendor lock-in.

Re: The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

#20
post #12

Earlier quoted context omitted.

> Unfortunately by tying into the marketing of passkeys, there is going to be a pervasive assumption that ecosystem/on-device passkeys are just as secure. Passkeys are an improvement over passwords. Security keys have a place for high security applications like enterprise deployments or the security paranoid. Passkeys stored on security keys can be trivially made worse by allowing users to set bad PINs (like 0000). I…

Passkeys are improvements over passwords in that login/password tuple is replaced by a single string. Everything else, including hardware tokens, is marketing vendor lock-in.

A passkey is not a single string? A passkey is a public private key pair where the private key is never sent to a server and signs things.
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