Earlier this month, The European Banking Authority (EBA) issued new guidance on the implementation of the regulatory technical standards (RTS) on strong customer authentication (SCA).
Traditional online identity verification solutions are failing to stand up to today’s fraudsters. In 2016, more than 25% of identity theft fraud involved the use of stolen information to open new accounts.
Nothing is more frustrating to consumers than having to re-authenticate an account in the middle of a transaction. Traveling and need to make a purchase from a new location? Shopping online from a different device? These legitimate transactions are often flagged for fraud and require customers to have to complete step-up authentication, adding yet another unnecessary step in their online shopping journey.
Our security walls aren’t as high as we think they are. There are holes, and cybercriminals know how to slip through them, undetected. Application fraud has become a number one problem for companies across all verticals. In 2016, more than 25% of identity theft fraud involved the use of stolen information to open new accounts.
The big booths were glitzy and crowded. One was even set up with a spaceship model overhead. Many had seating arranged for presentations and ongoing demonstrations. Coffee, candy, popcorn, all sorts of giveaways.
This blog post is excerpted from a white paper, entitled “Deconstructing the Cyber-Psychology Behind Behavioral Biometrics”. To access the full paper, click here.