The author recounts how their 84-year-old mother lost $30,000 to thieves who exploited her reused passwords and lack of multi-factor authentication (MFA) to access her bank accounts, retirement savings, and Gmail. Despite many banks and Google offering MFA, they make it optional rather than mandatory, prioritising user convenience and avoiding friction over customer security. The article argues that financial institutions should require stronger, phishing-resistant MFA — such as passkeys — by default across all platforms, as optional security measures leave the majority of users dangerously exposed.
