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Banking Bots: The Good, The Bad And The Ugly

PYMNTS

The March edition of the Digital Fraud Tracker® explores recent developments, including the use of AI and ML to fight application fraud, the importance of separating good bots from bad bots, and the potential impact of the new coronavirus on the cybersecurity industry. Axos Bank on How to Separate the Good Bots From the Bad.

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Italy Considers Mini-BOTs To Pay Gov’t Vendors, Igniting Debate

PYMNTS

Reports in Reuters on Sunday (June 9) said Italy’s mini-BOT scheme, developed by the League party and endorsed by Parliament in May, would create small-denomination bills that don’t expire in order to pay the state’s debts. There would be no obligation for third parties to accept them.” ” Euro Fears.

Bots 48
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PCI DSS Checklist: Secure Your Business

VISTA InfoSec

Create a Formal Procedure : Establish a standardized process for restricting network access by configuring rules and criteria for your firewalls and routers. Maintain Documentation of Your Procedures : Keep a record of your process and create visual representations of cardholder data streams between systems and networks.

PCI DSS 130
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eCommerce Fraud Presents A $12 Billion Problem

PYMNTS

In either case, the installation of the backdoor file makes it possible for the hacker to negate normal two-step authentication procedures and access the system freely. Serving as the ‘keys to the kingdom’ for attackers, a backdoor file can be a highly lucrative type of attack, accounting for its strong and growing popularity.”.

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Deep Dive: Reducing The Security Risks Of Open Banking

PYMNTS

Open banking is typically achieved via application programming interfaces (APIs), sets of rules and procedures that permit developers to create algorithms and applications that access features or data or interact with other systems. There were 85.42 billion such attacks between December 2017 and November 2019, 16.55

MFA 96
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Customer Service’s Future: Humans And Machines In Cahoots

PYMNTS

In a world where customers can order on mobile, use a touchscreen or talk to an artificial intelligence (AI)-based bot, the service industry will no longer need human workers, because machines will be able to do all of those jobs. For example, a customer sends a simple email query to Yapstone.

Bots 75
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Deep Dive: Why Leveraging Biometrics Can Ease FIs’ $4B ATO Problem

PYMNTS

A popular brute force method used to accomplish this is credential cracking , which involves fraudsters using bots to automatically plug potential usernames and passwords into login screens in the hopes of stumbling across the correct credentials. This method has downsides, however.