New Vanguard Security Code Requirement [2FA: Two-factor authentication]

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southerndoc
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Re: New Vanguard Security Code Requirement [2FA: Two-factor authentication]

Post by southerndoc » Mon Sep 09, 2019 10:39 pm

I've been using a Yubikey and love it. I wish there was a way to eliminate any other backup method so I would be forced to call if I lose my Yubikey.

The inconvenience to me is well worth the security. I do not want to sign in one day to see my retirement account zero'd out.

I understand the frustrations of the military person. However, the annoyance is a small price to pay for the added security.

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ThereAreNoGurus
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Re: New Vanguard Security Code Requirement [2FA: Two-factor authentication]

Post by ThereAreNoGurus » Mon Sep 09, 2019 10:44 pm

southerndoc wrote:
Mon Sep 09, 2019 10:39 pm
I've been using a Yubikey and love it. I wish there was a way to eliminate any other backup method so I would be forced to call if I lose my Yubikey.

The inconvenience to me is well worth the security. I do not want to sign in one day to see my retirement account zero'd out.

I understand the frustrations of the military person. However, the annoyance is a small price to pay for the added security.
Unless one is in a coma it's unlikely one's account will be zeroed out. One can set email and text alerts any time an email address is changed, a transaction is initiated, etc. So, if you have voice verification established, you can freeze your account with a simple phone call .

Also, as noted in some of these posts, it is absurd that Vanguard does not allow 2FA codes to be sent via email.

Although, I do agree with you that there should be the option to eliminate fall-backs if one loses their Yubikey.

These things just reinforce the notion that maybe Vanguard's security options are a bit behind the competition's.
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ftobin
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Re: New Vanguard Security Code Requirement [2FA: Two-factor authentication]

Post by ftobin » Tue Sep 10, 2019 2:56 pm

ThereAreNoGurus wrote:
Mon Sep 09, 2019 10:44 pm
These things just reinforce the notion that maybe Vanguard's security options are a bit behind the competition's.
It can be costly for the provider to support people losing their 2FA method and needing a way to get back in, especially in such a highly regulated industry. If Vanguard was innovative, however, they could have more stringent restrictions on actions taken while logged in with the "backup" method, like no bank transfers.

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ThereAreNoGurus
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Re: New Vanguard Security Code Requirement [2FA: Two-factor authentication]

Post by ThereAreNoGurus » Tue Sep 10, 2019 6:58 pm

ftobin wrote:
Tue Sep 10, 2019 2:56 pm
ThereAreNoGurus wrote:
Mon Sep 09, 2019 10:44 pm
These things just reinforce the notion that maybe Vanguard's security options are a bit behind the competition's.
It can be costly for the provider to support people losing their 2FA method and needing a way to get back in, especially in such a highly regulated industry. If Vanguard was innovative, however, they could have more stringent restrictions on actions taken while logged in with the "backup" method, like no bank transfers.
I agree (assuming you're referring to the wish for YubiKey usage with no backups). Hopefully Vanguard does something in the near future to improve overall security features.
Trade the news and you will lose.

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