Nigeria, June 21 -- As a security-conscious individual, you have likely enabled the two-factor authentication (2FA) feature on your banking apps, emails, and social media applications to safeguard against security breaches and e-banking fraud.

The purpose of the two-factor authentication or 2-step verification, is to provide a security layer in addition to your username and password. So anytime you access your banking app or email, you receive a one-time confirmation code via SMS as a double measure to prevent unauthorized access. Ordinarily, this should assure you that your account is safe.

However, an investigation by Bloomberg and Lighthouse Reports shows that 2FA codes sent via text messages are not as secure as previously assumed. ...