Fintech News

JULY 9, 2024

The digital token will authenticate logins without requiring an OTP, which can be stolen or tricked from customers by scammers. Those who have not yet activated their digital tokens are encouraged to do so to reduce the risk of credential phishing.

Phishing 106

Phishing Scams Online and Mobile Banking Credential 106

VISTA InfoSec

FEBRUARY 25, 2024

This guide makes sensitive cybersecurity concepts approachable to enable smarter decisions in securing your systems against catastrophe. They take advantage of vulnerable software, stolen credentials, tricked employees, business partner access, unencrypted transfers, and even insider threats to penetrate networks. What Gets Breached?

Data Breach 223

Data Breach Breach Multifactor Authentication Cybersecurity 223

Fintech News

APRIL 22, 2024

While this digital transformation offers undeniable convenience, it also introduces new challenges to mobile security in Indonesia Malware and phishing attacks pose a significant threat to the integrity and security of financial platforms, jeopardising both user data and financial security.

Phishing 113

Phishing Security Blocks Cybersecurity 113

Stax

MARCH 15, 2024

Data protection and security are crucial not just for safeguarding customer information, but for protecting business owners as well. Having and maintaining secure payment systems is integral for protecting yourself and your customers. Enter secure payment systems (SPS). What Are Secure Payment Systems?

Process 88

Process Security PCI DSS Encryption 88

The Fintech Times

APRIL 23, 2024

As mobile banking apps continue to accrue a seemingly ever-growing user base, criminals may sense an opportunity to access people’s finances by exploiting weaknesses in some banks’ security, consumer champions Which? They were not able to test banks’ back-end security systems. Security let downs Which? While Which?

Addressing 69

Addressing Online and Mobile Banking Security Best Practices 69

Fintech News

SEPTEMBER 17, 2024

Major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months in a concerted effort to bolster security against phishing scams. SFV will be used in high-risk scenarios to complement existing authentication methods during DT setup.

Verification 108

Verification Scams Financial Crimes Phishing 108

Braintree

AUGUST 26, 2019

Braintree has supported SMS and authenticator app two-factor authentication in the Control Panel since 2015. Two-factor authentication is a crucial tool for helping protect merchants from unauthorized account access, typically by requiring a time-sensitive code during sign in.

Authentication 52

Authentication Phishing Account Takeovers Breach 52

PYMNTS

JANUARY 27, 2021

Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously. How Authentication Prevents Fraud. Bot activity is the third major threat banks faced in 2020.

Innovation 85

Innovation Security Bots Identity Theft 85

Fintech Finance

MARCH 28, 2024

million in 2023 according to AusPayNet data [2], Mastercard has begun scaling its new tokenized and embedded online checkout experience which both enhances security for online transactions, while maintaining the convenience that consumers have come to appreciate from contactless payments in physical stores.

Visa 52

Visa Security Credential Payments 52

The Fintech Times

DECEMBER 18, 2023

They predict that social engineering attacks will surpass ransomware in 2024 due to increased sophistication, AI tools and emerging techniques, leading organisations to bolster cybersecurity defences with AI, scenario testing and multi-factor authentication.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

PYMNTS

JUNE 6, 2019

Security experts are warning about a phishing scam that can help hackers bypass two-factor authentication (2FA). The attack was demonstrated for the first time at the Hack in the Box Security Conference in Amsterdam last month, according to Fortune.

Scams 58

Scams Credential Security Phishing 58

VISTA InfoSec

JUNE 27, 2024

A joint investigation by Mandiant, Snowflake, and CrowdStrike revealed that Sp1d3r tracked as UNC5537, used stolen customer credentials to target at least 165 organizations that had not enabled multi-factor authentication (MFA) on their accounts. Conclusion The ramifications of this breach extend beyond immediate security concerns.

FBI 130

FBI Breach MFA Cybersecurity 130

PYMNTS

OCTOBER 23, 2018

The world might be growing smaller and more connected, but regulations and authentication methods can create issues for international businesses looking to expand globally. In the latest Digital Identity Tracker , PYMNTS takes a look at digital identity credential developments around the world. to the U.K. Around The Digital ID World.

Authentication 53

Authentication Rules Credential Governance 53

PYMNTS

NOVEMBER 24, 2020

Businesses and financial institutions (FIs) are constantly examining ways to make their customers’ accounts more secure, especially as more consumers go online to make purchases and transact during the ongoing COVID-19 pandemic. A convenient, yet secure solution could be just a few taps away, however.

Authentication 108

Authentication Consumer Online and Mobile Banking Verification 108

The Fintech Times

MARCH 6, 2024

However, as the digital payments ecosystem expands, ensuring the security of customer payment information remains a paramount concern. As a result, our focus remains on combating fraud and enhancing security. Merchants must ensure that the checkout process is quick, efficient, and secure, benefiting all parties involved.

Digital Payments 64

Digital Payments Innovation Security Issuers 64

Payment Savvy

MAY 10, 2024

As one in three American adults already utilize Plaid’s services, understanding what it is and addressing potential security concerns is crucial. Plaid is a financial technology company that specializes in securely exchanging financial data between banks and third-party applications. What Is Plaid? Is Plaid Safe to Use?

Payment APIs and Integration 52

Payment APIs and Integration Venmo Privacy Credential 52

PYMNTS

OCTOBER 19, 2017

In an era of nearly constant data breaches, securing commerce is now everyone’s concern. ” Nelsen told Webster that even Visa’s largest partners face a 12-month run time – end-to-end – to deploy a new authentication technology that replaces static passwords. And for good reason. Removing The Burden.

Authentication 58

Authentication Payment APIs and Integration Credential Use Case 58

PYMNTS

JULY 10, 2020

Creating secure banking environments without generating undue customer frictions relies on strong front- and back-end approaches to help FIs spot red flags, create login experiences that are harder for bad actors to crack and guide customers on how they can avoid falling victim to ATOs. Customer-Centric Authentication.

Multifactor Authentication 53

Multifactor Authentication Authentication Credit Union Fraud Prevention 53

PYMNTS

JUNE 8, 2020

This also allows hackers to bypass in-app authentication procedures because it can be easier to steal API keys — the credentials developers use to build apps that harness APIs — than contend with apps’ biometric or two-factor authentication (2FA) processes.”. Studies have found that using MFA can prevent more than 99.9

API 52

API B2B MFA Security 52

PYMNTS

JANUARY 12, 2020

Looking to tighten up security, Google is exploring adding biometric scans for password and payments to its Android Autofill options. The move, according to Android Central , will attempt to address concerns that Google’s password protection has often been less secure than it could be.

Security 55

Security Authentication Credential Encryption 55

Finovate

OCTOBER 8, 2024

allowing consumers to securely pay bills directly from their bank account without manually entering their account details. The new tool, which is powered by Plaid’s network, provides businesses with a lower cost, more secure option for consumers to pay bills directly from their bank account with less friction.

Non-Bank 59

Non-Bank Risk Assessment Processors Returns 59

PYMNTS

JULY 13, 2020

This means banks need to carefully consider how to maximize their defense strategies while presenting minimal interruption to customers and enabling secure, smooth engagement. FIs can struggle to detect such attacks because fraudsters provide the authentication details necessary to access the accounts. Detecting And Thwarting Attacks.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

The Fintech Times

MAY 30, 2024

This trust is vital for attracting institutional investors to the crypto industry, as they need confidence in the security and legality of their investments. The post Keytom: How Crypto Companies Can Enhance Security and Navigate the Compliance Maze? appeared first on The Fintech Times.

Compliance 64

Compliance Security Legal Blockchain 64

NFCW

NOVEMBER 28, 2023

The university has launched the digital version of its YU-card for all incoming students as part of an overall transition to mobile credentials that “for an institution of York’s size […] eliminates approximately 400 kilograms of plastic and polyvinyl chloride consumption per year”, the institution says.

Credential 52

Credential Authentication Security 52

PYMNTS

JUNE 8, 2020

Open banking may soon become table stakes for financial institutions (FIs) — they need to act now and be able to offer it securely or risk getting left behind. FIs therefore cannot afford to drag their feet on implementing open banking, but many may be concerned that third-party access to customer data will exacerbate security challenges.

Authentication 60

Authentication MFA Phishing Scams 60

Stax

JULY 9, 2024

Digital payments incorporate robust security features to protect sensitive information and prevent fraud. Encryption techniques ensure that payment data is transmitted securely between parties, making it difficult for unauthorized individuals to intercept or access sensitive information. What makes biometric authentication unique?

Digital Payments 163

Digital Payments Online and Mobile Banking Contactless Payments Payments 163

PYMNTS

APRIL 26, 2019

A P2P (peer-to-peer) technology ingrained in millions of IoT ( Internet of Things ) devices, including security cameras, smart doorbells, baby monitors and video recorders, has many security flaws that allow them to be compromised easily, exposing users to dangers from eavesdropping, credential theft and takeovers from remote locations.

P2P 75

P2P Security Compromise Credential 75

Fintech Finance

SEPTEMBER 25, 2024

After entering their registered credentials and authenticating via a one-time password, SMEs can then access and immediately use a variety of digital payment options. Signing up is simple. Business owners can use their KaiOS-powered phone to enroll.

Visa 97

Visa Economy Digital Payments Enrollments 97

PYMNTS

APRIL 6, 2017

And that for far too long, more focus has been placed on password security and management — accessing information — rather than on the effective protection of digital identities — making sure that only the people who should have access to data or systems, get it. And not to mention the most secure.

Authentication 48

Authentication Verification Credential Identity Theft 48

PYMNTS

AUGUST 8, 2019

And that fact — shared by Cognito CEO Alain Meier during a recent PYMNTS interview centered around changes in digital ID – serves to show the weakness of knowledge-based authentication. “We Meier said there is serious pressure to move further away from knowledge-based authentication methods and even Social Security numbers.

Security 58

Security Verification Online and Mobile Banking Breach 58

PYMNTS

JUNE 12, 2019

Google says iPhone and iPad users can now verify sign-ins with their Android security key, according to a report by TechCrunch. Compromised credentials are one of the most common causes of security breaches. Since the introduction of 2SV, Google said, 100,00 users are using their Android devices as a security key.

Authentication 49

Authentication Phishing Bots Credential 49

PYMNTS

OCTOBER 24, 2018

For Tern Commerce, clearing those hurdles previously meant manually reviewing identity documents and other credentials, which is both expensive and time-consuming. This pushed Bonkowski and his team to explore digital authentication solutions to protect its global user base. Onboarding Global Consumers. Protecting Purchases.

Authentication 66

Authentication Push-to-Card AML Debit Card 66

PYMNTS

APRIL 12, 2017

Identity company MorphoTrust USA looks to put a dent in tax fraud and theft by adding an additional layer of authentication security into the mix. Users register to receive a credential and verify their identity with a photo of their driver’s license and by taking a selfie. MorphoTrust’s eID works via mobile app.

Authentication 40

Authentication Tax Refunds Tax Scams Credential 40

The Fintech Times

JUNE 8, 2024

“We also know that Gen Z in particular is leaning into debit as a preferred payment for everyday expenses, so providing a secure, seamless online banking experience through open banking connectivity will ultimately help drive account primacy for financial institutions.”

Visa 69

Visa Payroll Direct Deposit Credential 69

PYMNTS

MAY 24, 2017

This all comes as no surprise to Brett McDowell, who is working with a team of corporations in verticals from financial services to software to take human error out of the authentication equation, as part of the FIDO Alliance. Consumers are notoriously bad at keeping their own security secrets, well, secret. No Password, No Cry? .

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

FEBRUARY 3, 2020

Such transparency between buyers and sellers allows the economy to quickly grow — but also presents fraud and security challenges. Many had used Amazon credentials to access their Ring services, so the breach gave fraudsters a jumping-off point to attack Amazon sharing services, plant false goods or spark other new fraud types.

AI 53

AI Security Consumer Fraud Detection 53

CB Insights

FEBRUARY 20, 2017

This year, multi-factor authentication is one increasingly hot area within the cybersecurity industry. Multi-factor authentication (MFA) is a security protocol that requires more than one unique credential to verify a user’s … Continued. Cybersecurity companies saw a record number of deals last year.

Cybersecurity 46

Cybersecurity Authentication MFA Credential 46