If the bank can't be bothered to either implement support for U2F or else clearly articulate why U2F isn't sufficient then they don't have a valid position. Anything else they say on the matter should be disregarded.
In this way, the banks are asserting control over your device. It's beyond authentication, they are saying "If you have full control over your device, you cannot access our services."
I'll agree with you that they don't have a valid position, because I can just as easily open up a web browser on said rooted device and access just fine via the web, but how long until services move away from web interfaces in favor of apps instead to assert more control?
Keep in mind that the businesses pushing this stuff still don't support U2F by and large. When I can go down in person to enroll a hardware token I might maybe consider listening to what they have to say on the subject. Maybe. (But probably not.)
Or, hasn’t there been malware that periodically takes screenshots of the device? Or maybe that’s a Hollywood plot, I forget actually.
By the time you reach the point that the user is doggedly following harmful step by step instructions over the course of multiple callbacks there is nothing short of a padded cell that can protect him from himself.
Unless you mean to suggest somehow screening such calls? A local LLM? Literal wiretapping via realtime upload to the cloud? If facing such a route society would likely be better off institutionalizing anyone victimized in such a manner.
Yeah, it's called Recall and its baked into Windows as a "feature."
>What exactly is the concern here?
Stealer malware. Or even RATs where attackers get notified when you open a sensitive app and they can take over after you have authenticated.
MitM via an evil (ie incorrect) domain name is prevented because U2F (and now webauthn or CTAP2) are origin bound.
RATs? On stock android? How does that work? And how are the things you describe not also threats for online banking via a browser? It's certainly not how the vast majority of attacks take place in the wild. Can you provide any examples of such an attack (ie malware as opposed to phishing) that was widespread? Otherwise I assume we're writing a script for Hollywood here.
Even then, a RAT could be trivially defeated by requiring a second one-off token authentication for any transaction that would move money around. I doubt there'd be much objection to such a policy. If people really hate it let them opt out below an amount of their choosing by signing a liability waiver.
This is assuming the user's device is not compromised.
>How does that work?
Priviledge escalation on an old OS version allows an attacker to get root access. Then with that they can bypass any sandboxing. Or they could get access to some android permission intended for system apps that they should not have access to and use that to do malicous things.
I don't closely follow malware outbreaks for android so I can't point to specific examples, but malware does exist.
> Priviledge escalation on an old OS version allows an attacker to get root access.
At which point hardware attestation accomplishes nothing. Running in an enclave might but attesting the OS image that was used to boot most certainly won't.
Many consumers use older devices. Any banking app is forced to support them or they will lose customers. There's no way around that. (It doesn't matter anyway because these sorts of attacks simply aren't commonplace.)
> but malware does exist.
I didn't ask for an example of malware. I asked you to point to an example of a widespread attack against secured accounts using malware as a vector. You have invented some utterly unrealistic scenario that simply isn't a concern in the real world for a consumer banking interaction.
You're describing the sort of high effort targeted attack utilizing one or more zero days that a high level government official might be subject to.
Attestation could be used to say that the user is not using a secure version of the OS That has known vulnerabilities patched.
>Any banking app is forced to support them or they will lose customers.
Remote attestation is just one of the many signals used for detecting fraud.
>one or more zero days
Many phones are not on an OS getting security updates. Whether that be due to age or the vendor not distributing the security patches. Even using old exploits malware can work.
Citation needed. The fact that the infosec industry just keeps growing YoY kinda suggests that there are in fact issues that are more expensive than paying the security companies.
This is not a question of missing tech.
Most banks already do that. The secure, locked down terminals are called ATMs and they are generally placed at assorted convenient locations in most cities.
It would quickly get out of hand if every online service started to do the same though. But, if remote device attestation continues to be pushed and we continue to have less and less control and ownership over our devices, I definitely see a world where I now carry two phones. One running something like GrapheneOS, connected to my own self-hosted services, and a separate "approved" phone to interact with public and essential services as they require crap like play integrity, etc.
But at the end of the day, I still fail see why this is even a need. Governments, banks, other entities have been providing services over the web for decades at this point with little issue. Why are we catering to tech illiteracy (by restricting ownership) instead of promoting tech education and encouraging people to both learn, and importantly, take responsibility for their own actions and the consequences of those actions.
"Someone fell for a scam and drained their bank account" isn't a valid reason to start locking down everyone's devices.