Two-factor authentication (2FA) brings an extra layer of security that passwords alone can’t provide. Requiring an extra step for a user to prove their identity reduces the chance of a bad actor gaining access to data.
One of the most common methods of 2FA is SMS text messages. The problem is that SMS is not a secure medium. Hackers have several tools in their arsenal that can intercept, phish, and spoof SMS. Despite this security flaw and better options for authentication, SMS-based 2FA is still used by several institutions.