All four major carriers in the U.S., AT&T, Sprint, T-Mobile, and Verizon Wireless, are building a "multi-factor authentication" method that will rely on peoples' cell phones to gain account access. The system, which has been in development since last September, is expected to launch before the end of the year. The goal is to cut back on identity theft and fraud enabled by weak or exposed passwords. The carriers said it will employ a "cryptographically verified phone number" that assesses data including device IP, SIM card, account, and how long customers have been with the carrier. "In addition, advanced analytics and machine learning capabilities will be used to help assess risk and protect customers," said the carriers in a statement. How this will be used by people on a day-to-day basis is still unknown. The group expects to provide more information later this year.


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