Singapore Use a mobile app with fingerprint access
It is dangerous to use a OTP send by SMS as a second level authentication (2FA) for a bank transfer. The SMS can be intercepted by a sophisticated hacker. 

It is safe to use a mobile app as a 2FA device. The app generates a 6 digit PIn which can be used for entry into the banking platform. As a further safeguard, the app requires user to provide his fingerprint. 

If you are worried that the phone can be cloned and the token stolen by a hacker, I do not see how this can work. It is not easy technically.

A mobile app with fingerprint access is safer than a physical token.

Tan Kin Lian

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