Under PSD2, European financial institutions must allow third-party payments providers (TPPs) to connect to their internal systems through open banking APIs. PSD2 is a big step forward for payments innovation and customer experience, but many FIs do not currently have the security solutions they need to monitor TPPs for banking risk.
Monitoring user behavior is one of the best ways to detect cyber attacks and fraud in real time. In recent years, user and entity behavior analytics (UEBA) and behavioral biometrics have emerged as two promising fields in the world of cybersecurity. Though both focus on detecting anomalous user behavior, there are critical differences between the two.
Cybercriminals are using new attack vectors and techniques, and the epidemic is reaching all four corners of the earth. Digital fraud in APAC, in particular, is set to be a rising threat. In this Q&A, Richard Booth, BioCatch Head of Sales in APAC, shares his thoughts on 2018 cybersecurity trends in the Asia-Pacific region, with a special focus on Australia.
Balancing fraud risk with the cost of information security investments is one of the toughest challenges chief financial officers (CFO) face. CFOs need to invest in technology that stops fraudsters and protects company assets, but budget challenges don’t allow for unfettered spending.
Banking trojans were up 102% in the second half of 2017, and the threat isn’t slowing down. In recent weeks, two new forms of banking malware have emerged, targeting users in Mexico and Spain.