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US Mobile Adopts Digital Identity Protocols To Protect Against SIM Swap Fraud

PYMNTS

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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Zelle: The Role Of AI In Stopping COVID-Related P2P Payment Scams

PYMNTS

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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How Dosh Is Tapping 2FA, Email Verification To Keep Onboarding Seamless

PYMNTS

This is why verifying consumers’ identities by authenticating their email addresses and other details must be as seamless as the rest of the onboarding experience, Ryan Wuerch , CEO and founder of cash-back platform Dosh , said in a recent PYMNTS interview. . Consumers do not expect to have to choose between speed and security, however.

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Why Mobile Payments Are Taking Off In China

PYMNTS

In June, Qualcomm announced its Snapdragon 820 processor would become the first mobile system on a chip to receive FIPS 140-2 Level 2 hardware certification that adds an advanced layer of cryptographic authentication to protect biometric data. Second, an authenticator code on a secure environment is necessary for the hardware itself.

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Deep Dive: How FIs Can Upgrade Authentication Measures To Foil Fraudsters? Open Banking Attacks

PYMNTS

Tightening Authentication. FIs must use highly secure methods to authenticate customers’ identities and make it difficult for cybercriminals that manage to steal customer information to pass themselves off as legitimate customers. MFA requires customers to prove their identities by providing at least two types of credentials.

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The Spice House On A Recipe For Secure, Cross Border AP

PYMNTS

Insufficient security approaches, such as failure to sufficiently protect AP systems against unauthorized users — such as by implementing multifactor authentication — might contribute to such problems. To read the Deep Dive, download the Tracker. About The Tracker .

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Swap.com Uses Data Analytics To Fight Post-Holiday Fraud Surge

PYMNTS

Behind-the-scenes analytics or multifactor authentication are widely supported by customers, even though they could result in a slightly more inconvenient customer experience. For more on these and other digital fraud news items, download this month’s Tracker. A survey found that 92 percent of U.S.