Code =link=: Hsbc Secure

HSBC Secure Code proves you have the phone. It does not prove that you aren't being tricked. The bank has solved cryptography, but it hasn't solved gullibility. The "Silent" Transaction: A Feature You Don't Know About There is a ghost mode to Secure Code that most customers never notice.

HSBC killed that logic in 2016 when they began rolling out the global standard for .

By Alex Mercer, Tech & Finance Correspondent hsbc secure code

It asks for a sequence of digits you don’t have memorized. You fumble for your phone. The clock ticks down from 60 seconds.

Never, ever give your HSBC Secure Code to a human being who called you. The bank will never ask for it. Ever. HSBC Secure Code proves you have the phone

This is the friction point of modern banking. It is annoying. It is intrusive. And according to the cybercriminals who tried to steal $500 million last year, it is the single most effective wall they face.

The criminal, who is simultaneously on the checkout page of a luxury goods site, types in that code. The bank thinks the victim approved it. The money is gone. The "Silent" Transaction: A Feature You Don't Know

It is a liability. Because customers have been trained to treat the code as "proof of bank," they willingly hand it over to scammers. The Future: What Comes Next? HSBC is already piloting the successor in Hong Kong and the UK: Biometric Secure Code .