Too Long; Didn't Read
Two-factor authentication (TFA) was introduced to reduce the risk of cybercrime. However, TFA has given cybercriminals more ammunition to infiltrate sensitive data they can profit from. The increasing prevalence of IoT devices on PSTN presents hackers with even more opportunities to access personal information that can be used to access sensitive accounts. The National Institute of Standards and Technology (NIST) has recommended businesses and government agencies to stop using SMS for TFA. The rising number of high-profile data breaches shows that zero companies are infallible.