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How Authentication and Identification Work Together to Build Digital Trust

The dictionary definition of trust, according to Merriam-Webster, is the “assured reliance on the … truth of someone or something.” In today’s digital world, trust can be a tricky concept. To do business online, whether you are a bank, retailer, insurer, airline or anything else, you must have some degree of trust in your user — trust
Publish At:2019-10-18 10:20 | Read:237 | Comments:0 | Tags:Fraud Protection Identity & Access Access Governance digital

Open Banking Is Here — Is Your Bank Positioned to Lead?

Banking is set to significantly change as Payment System Directive 2 (PSD2) regulations are introduced across Europe. In fact, open banking regulations are being considered in a number of regions around the world. The directives will require financial institutions to adopt open banking by safely and securely allowing customers to view account information and
Publish At:2017-11-01 18:45 | Read:4680 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Risk Managemen

Don’t Be Catfished: Protecting Yourself From New Account Fraud

Catfishing, the practice of pretending to be someone else online, became a cultural phenomenon through MTV’s popular TV show “Catfish,” driving more attention to our obsession with our online personas. However, it’s not just social media that needs additional scrutiny. In the wake of several recent major data breaches of personally id
Publish At:2017-11-01 00:20 | Read:2417 | Comments:0 | Tags:Fraud Protection Identity & Access Fraud Fraud Detection Fra

Grandma or the Wolf? Red Gets Smart About Fraud Protection

Little Red Riding Hood is stressed out. A job in fraud protection is no picnic — far from it. As the digital banking fraud manager for Fairy Tale Bank, she’s constantly assessing her customers to make sure no fraudulent activity is occurring. After all, fraud is no myth — it’s as real as can be. If Red has her way, her customers will stay safe al
Publish At:2017-10-23 17:50 | Read:2177 | Comments:0 | Tags:Fraud Protection Topics Fairy Tales Fraud Fraud Detection Fr

Pick a Card, Any Card: Deception, the Human Mind and the Social Engineering Challenge

Even as the technology deployed by both cyberattackers and cybersecurity defenders grows more sophisticated and powerful, the central role of the human factor remains critical. The most effective way to break into a computer network is to trick a legitimate user into opening the door to let you in. The techniques used to achieve this trickery are known as so
Publish At:2017-10-22 05:00 | Read:2750 | Comments:0 | Tags:Fraud Protection Fraud Prevention Phishing Phishing Attacks

Protecting Against Spam and Phishing Attacks With a Layered Approach to Email Security

Layered schemes are used in most information security strategies, and it is essential to establish a similar approach to protecting the organization from unwanted email. In fact, spam and phishing are some of the biggest problems IT security managers face today. According to LinkedIn’s “2017 Cybersecurity Trends Report,” phishing attacks ar
Publish At:2017-08-17 19:00 | Read:2743 | Comments:0 | Tags:Fraud Protection Risk Management Email Fraud Prevention Phis

Ransomware, Trojans and Fraud, Oh My! Tracking Recent Cybercrime Trends and Patterns

Throughout the years, banks have expanded their services by offering an ever-evolving set of online capabilities. As a result, financial institutions have become an obvious target for cybercrime and have been quick to deploy various layers of protection to keep their customers safe. Cybercriminals are looking for online money to grab as a day job. Many opera
Publish At:2017-08-07 21:55 | Read:3193 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Authentication

New Threats? No Problem! Identify Emerging Cybercrime Trends Early to Fight Financial Fraud

Every year, cyberattacks become more sophisticated, new malware emerges and fraud losses rise. Have you ever looked at your banking information to see a transaction that you didn’t make? Have you ever checked your credit report to find cards you never signed up for or high balances you didn’t create? Unfortunately, financial fraud is an issue ma
Publish At:2017-06-27 02:05 | Read:3102 | Comments:0 | Tags:Fraud Protection Risk Management Bank Fraud Banking Security

Phishing Attacks Collect 70 Percent of Credentials Within the First Hour

Have you ever been phished? Would you know the difference between a phishing website and your bank’s legitimate website? We all hope we could identify the difference between our financial institution’s domain and a phony one. However, statistics indicate that 30 percent of phishing emails are opened. To make matters worse, more than 400,000 frau
Publish At:2017-04-17 20:15 | Read:2959 | Comments:0 | Tags:Fraud Protection Financial Phishing Fraud Fraud Prevention I

Cybercriminals Riding Tax Filing Tides: Tax Fraud Season in Effect

Data theft is a year-round, opportunistic crime, but seasonal events often trigger rises in spam and fraud. The most significant such example is tax fraud riding the wave of tax filing season. It’s That Time of Year Again Every year, tax filing season, which extends from January to April in the U.S., is one of the most popular opportunities for cybercr
Publish At:2017-04-05 18:20 | Read:2880 | Comments:0 | Tags:Fraud Protection Risk Management X-Force Research Financial

Hey Phishing, You Old Foe — Catch This Cognitive Drift?

Phishing is one of the internet’s oldest online threats. Its history traces back to the mid-1990s, but it unfortunately continues to escalate in numbers. Based on social engineering, phishing can be delivered to an email address or through an SMS message with a URL inside. It can even come from inside a document saved locally on the recipient’s e
Publish At:2017-03-27 13:00 | Read:3383 | Comments:0 | Tags:Banking & Financial Services Cognitive Fraud Protection Frau

Adaptive Security: The Safety Net in the Flying Trapeze Act

Fighting Fraud With Adaptive Security The “2017 Identity Fraud Study” by Javelin Strategy & Research revealed that the number of identity fraud victims has increased by 16 percent, rising to 15.4 million U.S. consumers. The study also found that despite the ongoing efforts to prevent these breaches, fraudsters were able to steal a total amoun
Publish At:2017-02-22 20:25 | Read:2147 | Comments:0 | Tags:Cognitive Fraud Protection Cognitive Computing Cognitive Sec

Why 53 Percent of Banks Think Security Controls Negatively Impact Customer Experience

How do you tell if a legitimate customer or a fraudster is signing into your online banking platform? How do you know if the authentication measures your organization is using are effective? How important is it to your organization to provide a seamless customer experience while maintaining adequate security controls? The Problem With Customer Security These
Publish At:2017-02-02 20:55 | Read:3019 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Bank Fraud Ban

Designer Wallet or Mobile Wallet: Which One Do You Carry?

Nov. 8, 2016, is etched in my memory as the day the Indian government made a life-changing announcement regarding demonetization. With higher value currency being made invalid for transactions, my fancy Michael Kors wallet faced a sudden existential crisis. While the early days of demonetization brought a mad scramble to ATMs and banks, mobile wallet provide
Publish At:2017-01-24 15:55 | Read:2678 | Comments:0 | Tags:Mobile Security Banking Banking Security Fraud Fraud Prevent

Chip-and-PIN Credit Cards, One Year On

The U.S. was not an early adopter of chip-and-PIN credit cards, lagging behind major European countries and others. But more than a year after the official mandatory shift to this technology, the transition has reshaped most credit card transactions. As a result, the rate of credit card fraud is down sharply. Catching Up With Chip-and-PIN Credit Cards The co
Publish At:2016-12-30 00:35 | Read:3483 | Comments:0 | Tags:Fraud Protection Retail Credit Card Credit Card Fraud EMV Fr


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