The digital transformation has created a cloud-first and mobile-first world, greatly increasing the amount of mobile data transiting between mobile devices, computers, servers, etc. As a result of companies digitalizing their frameworks and services, corporate and personal data are now extensively accessed by mobile devices. This evolution is exposing them to a whole new range of risks: Malware, data leakage, vulnerabilities, network exploits, etc.
Sometimes it's unfortunate that technical terms, often with technological input, are emptied of meaning by inappropriate marketing uses. It has been some time since I gave up fighting the misuse of the term "innovation" and now deplore the overuse of artificial intelligence.
Smartphones and tablets have become the first point of access to the internet. This evolution has led to the creation of many Wi-Fi networks so people can connect from almost anywhere, but it opens a new playground for hackers. The growing amount of public networks and users who get connected to them has increased Man-In-The-Middle attack opportunities.
Most online transactions require a two-step authentication, and the One-Time-Password (OTP) sent by SMS is often one of those two steps. The purpose of an OTP is to prevent fraud by confirming that the person making the transaction and the credit card owner are one and the same. To do so, a temporary code is automatically sent by SMS to the phone number associated with the bank account used.