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:

>
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.

If people are required to use complex passwords it's unlikely they'll
be able to memorize them, so will often write them down. People are
much more likely to be able to memorize a 6-digit password.

So the reduced security of a simple password is more than outweighed
by the risk of people writing a password down.

Chris