One chestnut from my history in lottery game development:
While our security staff was incredibly tight and did a generally good job, oftentimes levels of paranoia were off the charts.
Once they went around hot gluing shut all of the “unnecessary” USB ports in our PCs under the premise of mitigating data theft via thumb drive, while ignoring that we were all Internet-connected and VPNs are a thing, also that every machine had a RW optical drive.
I tried so hard to steer my last company away from SMS MFA. CTO basically flat out said, “As long as I’m here SMS MFA will always be an option.”
Alright, smarmy dumbass. I dream of the day when they get breached because of SMS.
If I remember it correctly, in GSM it’s perfectly possibly to spoof a phone number to receive the SMS using the roaming part of the protocol.
The thing was designed to be decently safe, not to be highly secure.