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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:210 | 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:4661 | 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:2398 | Comments:0 | Tags:Fraud Protection Identity & Access Fraud Fraud Detection Fra

Massive Identity Data Exposure Leads to Rising Tides of New Account Fraud — What’s Next?

Financial online fraud and the fuel that feeds it has been growing steadily over the past decade, resulting in losses to banks, businesses and individuals, especially with cases of new account fraud (NAF). The challenge online service providers face nowadays is not only an increase in NAF, but also in NAF’s sophistication and the difficulty to detect
Publish At:2017-10-31 05:50 | Read:2933 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Identity & Acc

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:2119 | Comments:0 | Tags:Fraud Protection Topics Fairy Tales Fraud Fraud Detection Fr

Frost & Sullivan Report Highlights Rise in Phishing Attacks

Have you ever unknowingly opened and responded to a phishing email or fallen victim to a phishing attack? A recent report by Frost & Sullivan titled “You’ve Been Phished, Again! Solution: Eliminate the Click-It Temptation,” discussed just how susceptible we all are to these fraudulent attacks and what can be done to avoid them. How Do P
Publish At:2017-09-12 13:50 | Read:2925 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Cognitive Secu

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:3168 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Authentication

Uncover Omnichannel Fraud Faster

Today, banking is easier than ever. Customers can engage with their financial institutions through multiple channels and devices. These diverse banking methods and behaviors are fantastic for customers, who can seamlessly make payments and deposits, check their balances, and transfer funds from any device or channel from anywhere and at any time. This omnich
Publish At:2017-07-18 13:40 | Read:2428 | Comments:0 | Tags:Banking & Financial Services Fraud Protection Financial Frau

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:3051 | Comments:0 | Tags:Fraud Protection Risk Management Bank Fraud Banking Security

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:2112 | Comments:0 | Tags:Cognitive Fraud Protection Cognitive Computing Cognitive Sec

Taking Evasive Actions Against Cyberfraud

One of the interesting topics IBM teams analyze is the ways in which malware authors constantly innovate their cyberfraud techniques when it comes to evading detection either by endpoint solutions, such as antivirus tools, or research and enterprise security systems, such as sandboxes and reverse engineering techniques. Attacks involving Trojans are always i
Publish At:2015-04-21 20:10 | Read:3283 | Comments:0 | Tags:Fraud Protection Cyberattack Cybercriminals Cyberfraud Cyber

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