Bank-related frauds have been continually rising over the years, with the recent spate of SMS phishing scams involving over $13 million dollars in losses. The unfortunate incidents mainly involved the scammers hijacking the internet banking's SMS-based One-Time Password (OTP) system.
According to security professionals, OTPs sent via SMS could have been rerouted or compromised through a known vulnerability. Once the hackers have redirected your phone number, they no longer need your physical phone to gain access to the codes and perform fraudulent transactions.
Due to recent events, we want to assure customers that we continuously enhance our security policies to ensure stronger data privacy protection. Please note that QuickHR does NOT use SMS-based OTPs to authorise sign-ins to our HR software. Instead, we use the more secure email two-factor authentication (2FA) to verify user logins. At the moment, our email 2FA is only available for super admins. Rest assured that we plan to make it available to all users in 2022.
With the most secure multi-tier encrypted full-suite HRMS in Singapore, you can be confident that your business is fully safe and protected from any cyber threats.
Watch QuickHR in action to discover how our software can help you protect your employee's personal data on our HR platform - Book a Free Demo Today
