Improving cyber security ROI while managing risk and providing a seamless customer experience is a balancing act. With the number of hackers and criminal groups targeting financial institutions at unprecedented levels during the pandemic, strong fraud detection solutions are more important than ever.
As we head into the new year, BioCatch’s Chief Cyber Officer, Uri Rivner, has looked into his crystal ball once again for our annual cybercrime and fraud predictions blog. In 2019, Uri’s predictions proved to be incredibly prescient. You can review Uri’s 2019 predictions here.
From banking trojans to social engineering scams, online and mobile banking channels are vulnerable to an ever-growing range of cyberattacks. To keep up, retail and commercial banks need online banking security measures that criminals can’t circumvent.
October 2019 marks the 16th annual National Cybersecurity Awareness Month (NCSAM). If anything is clear, it’s this: the internet is becoming an increasingly dangerous place, even as the world becomes more interconnected.
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.