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From: "Newyana2" <Newyana2@invalid.nospam>
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Subject: Re: Codes sent by text message
Date: Wed, 13 Mar 2024 07:40:16 -0400
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"Richmond" <dnomhcir@gmx.com> wrote

| I would rather use it than use an android phone. I don't trust the
| security of android phones, and I have a suspicion that banks don't
| either, but they are not taking responsibility. Who will pay if your
| phone gets malware on it and steals your credentials?

 That's a good question. To read the media it seems that
identity theft is rampant, though I don't actually know
anyone it's happened to.

  Credit card companies will usually reimburse losses, but
they don't have to. They're doing it so far because they
profit by encouraging people to use cards without worry.

  Debit cards are less protected. Commercial debit cards
have no protection in the US. With personal debit cards
there are limitations. If I remember correctly, one is that
any theft must be reported within something like 2 1/2 days.
How many people even read their bank statements or
balance their checkbook to know if something goes wrong?

  The level of abstraction makes me nervous. WW3 might
be started and won by one country simply hacking into
multiple networks simultaneously and tainting the records
beyond salvaging. Then everyone wakes up the next day
a random pauper or billionaire. Everything could collapse.

  On the other hand, money under a mattress also has
severe limitations.

  I avoid any online banking. I can still walk and drive. Social
security is auto-deposited. I just don't need online banking,
so there's no sense risking it. I've also locked my credit. In
the US one can contact 3 credit reporting agencies, establish
a lock, and from then on no credit cards can be issued. If
you need a new credit card, you unlock it temporarily. That
method also provides a great excuse for pushy store clerks
who want me to sign up for their store card. "Oh, I'd love to,
but I have my credit locked. Haven't you done that yourself?"