The fraud challenges currently facing global financial institutions are extensive. From detecting scams through to synthetic identities, fraud detection in banking requires innovative solutions to deal with complex problems. Unfortunately, most traditional authentication and fraud prevention solutions are aimed at solving a specific problem – is someone logging in from a known device or is the password entered the correct one? These one dimensional solutions leave blind spots for criminals to exploit, coming in the form of remote access attacks, social engineering and malware.
Last week marked a watershed Election Day in America, but for those of you expecting a political analysis of what transpired, you will be sorely disappointed; for what I want to talk about is identity. Identity from an American point of view. Identity in the context of a crisis that we are facing in this country, which rears its ugly head in so many different ways.
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.
Last month Apple revealed a cool feature in iOS 12 security: the device will scan incoming SMS messages for One Time Codes, used for 2FA, and then suggest those codes as an auto-fill function when relevant.