PYMNTS

NOVEMBER 13, 2020

Digital identity solutions have become increasingly widespread in recent years as alternatives or supplements to old-fashioned authentication methods like passwords. Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses.

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Multifactor Authentication MFA Verification Online and Mobile Banking 97

VISTA InfoSec

JULY 29, 2024

Whichever cryptocurrenciesyouretrading in, make sure to look for these security features in yournextcrypto wallet: 1) Multifactor Authentication (MFA) Multifactor authentication adds extra layers of security in addition to the typical username password.

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Cryptocurrency Multifactor Authentication MFA Compromise 130

PYMNTS

SEPTEMBER 5, 2019

Fraud protection has never been taken lightly by call centers, but the need for stricter authentication is reaching new levels in the face of automated bot attacks and near-daily account takeover (ATO) attempts. Fraud is an ever-evolving space, [so] it’s important, with multifactor authentication, to look at it holistically,” she said.

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MFA Multifactor Authentication AI Authentication 46

VISTA InfoSec

FEBRUARY 28, 2024

Today, we turn our attention to Requirement 8: Identify Users and Authenticate Access to System Components. Changes Core Requirement Authentication must use at least one of the following: - Something you know (password) - Something you have (token) - Something you are (biometrics) Same core requirement. c (v3.2.1) -> 8.2.2.c

PCI DSS 130

PCI DSS Best Practices Authentication Rules 130

VISTA InfoSec

SEPTEMBER 25, 2024

Change Management: Develop a change management strategy to address any resistance or concerns from your team. Authentication: Implement multi-factor authentication (MFA) to add an extra layer of security to your system. This can help foster a positive attitude toward the new system and ease the transition.

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Cybersecurity CRM Disaster Recovery Encryption 130

VISTA InfoSec

OCTOBER 21, 2024

Change Management: Develop a change management strategy to address any resistance or concerns from your team. Authentication: Implement multi-factor authentication (MFA) to add an extra layer of security to your system. This can help foster a positive attitude toward the new system and ease the transition.

Cybersecurity 130

Cybersecurity CRM Disaster Recovery Encryption 130

EBizCharge

MARCH 18, 2025

So, it’s crucial to monitor and address any security issues that may arise. Merchants must address any security challenges associated with credit card processing to protect customer data and prevent fraud. Its important to remember that, as with any form of payment processing, security is paramount.

Credit Cards 52

Credit Cards Process Security Data Breach 52

VISTA InfoSec

DECEMBER 19, 2024

Regularly patch and update software to address known vulnerabilities. Use multi-factor authentication (MFA) for SWIFT interfaces and applications. Based on this analysis, we deliver actionable insights to address compliance gaps, implement mandatory and advisory controls, and strengthen your overall cybersecurity infrastructure.

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SWIFT Cybersecurity PCI DSS Compliance 130

Fintech News

MAY 20, 2024

The webinar will address the underutilization of transactional data by banks and its potential to drive customer engagement, increase customer lifetime value, and enhance business impact. The webinar, hosted on BrightTALK, will focus on leveraging passkeys to deliver secure and seamless user experiences in authentication processes.

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FinTech Embedded Finance BNPL AI 135

Stax

MARCH 4, 2024

How do two-factor authentication and “3-D secure” protect payment information? Multi-factor authentication (MFA) adds additional layers of security by requiring additional verification during the transaction process. It’s important to look under the hood regularly to ensure vulnerabilities can be discovered and addressed.

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PCI DSS Payment Security Security MFA 88

PYMNTS

NOVEMBER 16, 2020

Multifactor authentication (MFA) has become commonplace for online accounts, with users confirming their identities via text messages sent to their phones. Biometric authentication methods like fingerprint and facial recognition scans are now standard on the latest smartphone models. It's that easy.”.

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MFA Verification Online and Mobile Banking Multifactor Authentication 71

PYMNTS

SEPTEMBER 21, 2020

And in one recent edition of PYMNTS’ KYC/AML Tracker details, the rise of open banking is likely to spur a “fast track” for new AML efforts, including multifactor authentication (MFA) and strong customer authentication (SCA) processes.

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Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

PYMNTS

NOVEMBER 17, 2020

This negative experience is due to a number of factors, including ineffective communication, unclear directions on how to access their devices, and tedious processes when setting up their accounts that often require multiple password entries and multifactor authentication (MFA) setup.

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Multifactor Authentication Online and Mobile Banking Checks MFA 107

Fi911

JANUARY 18, 2024

Multi-Factor Authentication (MFA) Implementing MFA for customer authentication can significantly enhance security. They should also have a robust response plan in place to investigate and address reported cases of third-party fraud swiftly. The post What is Third-Party Fraud? appeared first on fi911blog.

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Account Takeovers MFA Fraud Detection Credit Cards 93

PYMNTS

OCTOBER 16, 2020

The October Preventing Financial Crimes Playbook explores the latest financial crime developments, including the growing threat of P2P payment app fraud, evolving customer attitudes surrounding multifactor authentication and biometrics, and recent successes in fraud prevention in the United Kingdom. About The Playbook.

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Zelle P2P Scams Financial Crimes 89

VISTA InfoSec

NOVEMBER 12, 2024

Strong access controls, like multi-factor authentication and unique user IDs, are essential to prevent unauthorized access, especially in environments with multiple users ( Requirement 8.3 ). Access control : PCI DSS requires that access to cardholder data be limited to only those who need it for their role ( Requirement 7.1 ).

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PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

Strong access controls, like multi-factor authentication and unique user IDs, are essential to prevent unauthorized access, especially in environments with multiple users ( Requirement 8.3 ). Access control : PCI DSS requires that access to cardholder data be limited to only those who need it for their role ( Requirement 7.1 ).

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

PYMNTS

JUNE 9, 2020

The bank is relying on tools like multi-factor authentication (MFA) to balance seamlessness and security while verifying customers’ identities during mobile onboarding. That means FIs must make sure they can properly authenticate customers at speed and scale.

Online and Mobile Banking 59

Online and Mobile Banking MFA Enrollments SWIFT 59

The Payments Association

OCTOBER 22, 2024

Further, it is unclear whether the rules address the complexities and evolving fraud tactics. Benefits vs. concerns of the new regulations The PSR’s new rules are a critical step in addressing this crisis. As scams become more advanced, even the most cautious consumers are falling victim.

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Rules Fraud Prevention Caps Deepfake 88

Stax

NOVEMBER 21, 2024

The fact that the customer is not present physically at your store makes it a high-risk transaction, and the use of security measures like two-factor authentication is highly recommended. A good example is restaurants that accept customer takeout orders over the phone.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

Seon

JUNE 15, 2023

It’s worth noting here that you can always act on your initial suspicions by running a quick email lookup against an address associated with a dubious message. Check out SEON’s address lookup widget below to see this approach in action. Use multi-factor authentication (MFA) to alert you immediately to an unrecognized sign-in attempt.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered entities’ incident response plans must also expressly address procedures for recovery from backups, root cause analysis, evaluation of business impact, and prevention of recurrence of incidents. By November 1, 2025, covered entities must comply with multifactor authentication and asset inventory requirements.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

VISTA InfoSec

JULY 31, 2023

It is then up to the business to engage a consultant or take other appropriate measures to address the areas of non-compliance. will offer guidance on multi-factor authentication. In addition to unique access, PCI DSS requirements mandate the use of multi-factor authentication (MFA) mechanisms. PCI DSS v4.0

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PCI DSS Security Encryption Compliance 130

FICO

SEPTEMBER 17, 2018

Layer 2 – Authentication. This layer covers password policies, two-factor and multi-factor authentication (MFA), device profiling, etc. Fraudsters don’t give up easily and will try to bypass strong cybersecurity and authentication controls using social engineering to dupe employees or working with insiders.

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Cybersecurity Multi-Currency MFA ATM 45

Basis Theory

OCTOBER 1, 2024

Scenario 2 : If you're processing less than 6 million transactions and aren't using a service provider, someone in your organization will need to address over 300 questions in your annual SAQ D. Quarterly scans typically run around $175 per IP address. As such, you should reduce your scope to SAQ A or SAQ A-EP for as long as possible.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

PYMNTS

NOVEMBER 9, 2017

I don’t think Alexa is road-ready for true voice biometric determination for an MFA [multi-factor authentication], even in-home,” IntraNext CEO Patrick Brown told Karen Webster in a recent interview. Brown and Webster agreed that, as an authentication method, Alexa (and voice in general) still provides far more questions than answers.

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Authentication MFA Fraud Detection Security 41

Nanonets

MAY 3, 2023

This list of finance AI tools covers the most useful and interesting tools available to address each of the challenges finance professionals face. Like other fintech tools, Planful and Predict protect their users’ financial data with MFA as well as layers of the latest encryption technology.

AI 94

AI Finance Advisors Fed 94

FICO

SEPTEMBER 19, 2018

Layer 2 – Authentication. This layer covers password policies, two-factor and multi-factor authentication (MFA), device profiling, etc. Fraudsters don’t give up easily and will try to bypass strong cybersecurity and authentication controls using social engineering to dupe employees or working with insiders.

Cybersecurity 40

Cybersecurity Multi-Currency MFA ATM 40

Seon

SEPTEMBER 28, 2023

This includes protecting themselves with approaches such as multi-factor authentication and malware recognition, or using reverse lookup to assess whether someone is trustworthy. SEON’s widget, shown here, allows you to enter an email address or phone number to reveal a person’s digital footprint.

Security 52

Security Phishing Best Practices Data Breach 52

Stax

SEPTEMBER 17, 2024

Additionally, sensitive authentication data must never be stored after authorization, even if encrypted. Organizations must develop and maintain secure systems and applications by implementing a process for identifying and addressing vulnerabilities.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

PYMNTS

NOVEMBER 12, 2019

Defending against such threats means encrypting sensitive data both in storage and transit, applying multi-factor authentication (MFA), using penetration testing, accessing continual attack monitoring and more. It is critical that platforms protect themselves against phishing and malware, Farris said. Ramping Up Protections.

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Money Laundering AML Authentication MFA 40

Seon

JANUARY 29, 2024

Flag suspicious behavior: Look for suspicious account changes in real time, recognize suspicious IP addresses and identify unknown devices or multiple accounts being used from the same device. For instance, if a user informs you of their travel plans in advance, their IP address can be added to the whitelist accordingly.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

SEPTEMBER 7, 2017

On the existing products, I spend a significant amount of time with our product, marketing and customer support teams getting involved in a variety of ongoing projects to address issues related to deployment, performance validation and customer success. We are also paying close attention to cryptocurrencies (e.g.

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Same Day ACH Fraud Detection Innovation Fraud Prevention 46

Nanonets

SEPTEMBER 25, 2024

For example, if the bank statement lists a $200 withdrawal not recorded in the company’s books, this discrepancy must be identified and addressed promptly.   Limiting access to only authorized personnel, implementing Multi-Factor Authentication (MFA), and employing data masking techniques reduce the risk of data breaches. 

Process 52

Process AI Best Practices Reconciliation 52

The Payments Association

FEBRUARY 17, 2025

As AiTM fraud rises, businesses must adopt multi-layered security, biometric authentication, and user education to stay ahead of evolving threats. When the victim enters their credentials, the attacker captures these details and may steal session cookies to bypass multifactor authentication (MFA).

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Phishing Multifactor Authentication Authentication Credential 88

The Payments Association

DECEMBER 10, 2024

It highlights the urgent need for payments firms to address AI-driven fraud to protect financial security, maintain customer trust, and comply with regulations. From AI-driven fraud detection tools to enhanced authentication methods, the industry embraces innovation to stay ahead of fraudsters. Why is it important? What’s next?

AI 88

AI Fraud Detection Fraud Prevention Deepfake 88

EBizCharge

FEBRUARY 13, 2025

Trustworthy providers will also secure your payment processing system with multi-factor authentication (MFA) or two-factor authentication (2FA), real-time authentication monitoring, 3D Secure, and more.

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Processors Payment Gateways Duplicate Disputes 52