Re: Mobile banking: alarm as fraudsters take over handsets and raid accounts

On Mon, 15 Jul 2024 14:48:38 +0100
Clive Page <usenet@page2.eu> wrote:
 

On 14/07/2024 00:20, Chris wrote:
>

Not the same thing. Bank apps ask you to set a PIN as an added
level of security. People are lazy and don't want to remember
another PIN so use the same one as the phone lock screen.

>
I have no idea why the banks have recently made the security of their
apps weaker.  I have two banking apps on my phone, each of them used
to have a longish alphanumeric password that I had chosen (two
different passwords of course).  But recent compulsory "upgrades" to
each App have made me chose a 5-digit or 6-digit PIN.   I have chosen
different PINs and neither is the same as the one I use to unlock the
phone, but all the same it's obviously less secure than before.  Can
anyone think why on earth they have done that?  It seems crazy to me.
>
>

 What is the banks' explanation?