Comment by h4ckerle

As a european I again find it crazy what kinds of insecure stuff the banking industry in the US does. Chip+PIN arrived long after they did here, SMS Tan is still a thing while EU Payment Services Directive 2 (PSD2) forbid this in 2018, 7 years ago. Many transactions are still authenticated via signatures on paper cheques, you can use your credit card without a second factor (also regulated by PSD2). I just can't understand why they continue doing this, when I'd assume fixing this would cost less than what fraud must be costing them today.