SMS text messages were already the weakest link securing just about anything online, mainly because there are tens of thousands of employees at mobile stores who can be tricked or bribed into swapping control over a mobile phone number to someone else. Now we’re learning about an entire ecosystem of companies that anyone could use to silently intercept text messages intended for other mobile users.
Krebs on Security shares how easy it is to hack SMS. SMS is not secure and using it for anything security related is a bad idea. Banks should get this but they do not. If your bank sends you text messages to confirm your login, your account security is not priority for your bank. Complain about it, and if you can – find another bank.