In App switches and location based security

[alexs (Alex Sherwood)]

@Andy1

Limited damage as it stands since they can’t actually spend any of your money, but down the line it could be problematic.

And that’s why more safeguards, for the new functionality, will be put in place at that point

But we’re talking about actual security now, not placebo security so lets move the conversation to the below topic if you have concerns about the magic links.

For anyone who’s wondering, here’s why the Monzo team adopted magic links -

Log in links now coming via SMS too

Unless you’ve got some magic solution for phishing that the rest of the banking industry doesn’t have, this is a dangerous precedent to set with your customers We don’t think trying to influence user behaviour is a very effective way of trying to prevent attacks such as phishing. Despite your best efforts, users will either ignore your advice or be tricked by complex scams. The burden of security should sit with us, and you should be able to click on any link you want without being defrauded. …

& since Monzo are liable for unauthorised access of users accounts (as long as the user follows the T’s & C’s) , it’s in their interest to get this right.