Depends on what country you're in. In the UK, the banks are often held liable for various scams that involve the transfer of money, so they up the security over and over again. A bank will rightly argue why it's responsible for an old granny sending her life savings to her new lover in Namibia, so it seeks to block that transaction in the first place.

Some of that liability is fair but most of it is the government telling the banks to account for the loss when someone is scammed. They are obviously going to mitigate that as much as they can.

Rooted devices don't enable that transaction. That's all social engineering.

It's all social engineering now but that's because phones are secure and remote attestation infrastructure is in place.

Go back fifteen years and malware is absolutely submitting bank transactions after the user does a 2FA.

https://krebsonsecurity.com/2010/03/crooks-crank-up-volume-o...

and grandmas don't root their devices.

As a devils advocate grandma would have no idea if she was buying or got her device rooted by someone else.

> so they up the security

They're upping the surveillance, not the security, quite demonstrably.

This is meant to protect /them/ from liability and not /you/ from loss.

Yep, hardware attestation is becomming more common, even with websites.

This is why LineageOS is actually dead in the water, even though they're "in talks with hardware vendors". It doesn't matter when people can't use the apps and services they need.

This reminds me when living in South Korea used to require Internet Explorer/ActiveX to get anything done online:

https://en.wikipedia.org/wiki/Web_compatibility_issues_in_So...

A solution could be having a tiny non-rooted Android system as a "coprocessor".

This won't work. The tiny non-rooted system wouldn't get certified by Google and therefore not pass hardware attestation, which most banking apps use.

Well you could take a certified system off-the-shelf and integrate it into a bigger thing.

I think they mean having a second non-rooted phone that is certified but cheap.

Bunch of fintechs only let your signup from an app. Easier to secure and prevent bots. Pin certs, detect virtualization, etc.

And, of course, easier to get the valuable data about the person setting up an account.

Like what data? Curious because I built and launched a challenger bank.

What app developers find most valuable is what other apps you use and what competitors apps you have so they can target you more effectively. If you have Peloton or Tonal, they want to know if you have the Strava app on your phone for example.

Only on older versions of Android. Apps are very locked down on what you can get. I would have loved to be able to fingerprint a device when i was at the challenger bank and application list is very good for fingerprinting.. We would fingerprint on the web to detect bots.

Did you know about this workaround? Afaik it's still active https://peabee.substack.com/p/everyone-knows-what-apps-you-u...

> application list is very good for fingerprinting..

So is the personal, private content of my texts, why not go for that while you're at it?

Theoretically any sort of data that apps in a given OS can access through an API.

This trend makes me want to find a small town credit union.

I chose my current bank because it was one of the few that had proper token based access for 3rd party integration. An overwhelming majority of banks were relying on a 3rd party holding your actual username/password and saying "trust me bro". I wasn't comfortable with that.

I use a small town credit union and its great.

Normiefication. Normies do everything on their phones; it’s the companies meeting the masses where they are. I’ve seen people fight for their lives to do a spreadsheet on their phones when there’s a laptop they own gathering dust less than 50 feet away.

This term needs to catch on, this is the first I've seen it, bit it explains why so many prodict decisions are made and those who know better/different are just too small a minority to get any say.

We're dragged into this kicking and screaming and yet normies think we're the crazy ones.

Possibly, but companies seem strangely set on getting people to install apps, even when the feedback is negative.

Offering a monetary reward for installing apps seems fairly common. Chevron had someone at my gas station offering something like $5 of free gas, plus $1 a gallon off of the next three purchases. If it was something the customers wanted, they wouldn't need to pay people to do it.

This is a very condescending toward Vietnamese tech people. According to Twitter/X, Vietnam’s GDP just surpassed Thailand and it’s on its way to joining the Great East Asian prosperity zone by becoming the last country to become fully industrialized and very rich. Many tech jobs in the US will move to Vietnam in the coming few years. You will be surprised where your future Tech conferences will be located.

You're on the money with the rest of this, but...

> Many tech jobs in the US will move to Vietnam in the coming few years.

It would seem to me that India has that on lock.