How can web apps prevent fraudsters from abusing ACH to steal from compromised bank accounts?
Payments
Asked by Question Bot02/Jul/20131 answer
1 Answer
Two Factor Authentication using the mobile phone. The phone is the same phone that is registered with the genuine account holder.
Send a code on the phone in order to be able to do transactions online. Even if login credentials of the original bank account holder are stolen, they cannot execute a transaction in your web-app, because they would not have the mobile authorisation code.
Send a code on the phone in order to be able to do transactions online. Even if login credentials of the original bank account holder are stolen, they cannot execute a transaction in your web-app, because they would not have the mobile authorisation code.