This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
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?
Financial institutions must prioritize multifactorauthentication as hackers take advantage of a lack of identity protection. In 2023, cyberattacks using valid credentials to gain access to user accounts increased 71% from 2022, according to IBM’s 2024 X-Force Threat Intelligence Index.
The airline claims that 24[7] fell short of implementing basic security controls like forbidding workers from using the same login credentials or requiring multifactorauthentication for employees accessing source code. They then monitored the website activity of the carrier and took data entered by visitors.
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.
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
To protect businesses, security experts urge anyone who receives such a request to double- and triple-check with whomever made the initial request. The Pandemic's Security Impact. According to Sadler, "Deepfakes are the next iteration" of BEC, enabling cyberattackers to steal video conferencing credentials or hop on the telephone.
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.
“What we’re seeing is an ugly underbelly of people who take things like the coronavirus, which is having an enormous impact on the world, and saying, ‘Hey, what a great time to try to scam people,’” Debbie Gould, chief security officer at PNC Financial Services , noted in a recent interview with PYMNTS. Multistage Fraud Defense.
EST, when an access credential to its cloud computing environment was compromised. That cloud computing account had not been protected by multifactorauthentication, Timehop said in the blog, noting that it has taken steps (including multifactorauthentication) to secure authorization and access controls on all accounts.
Criminals are now learning about potential targets and using their lack of security parameters to lull them into providing private information.”. The NYT noted this scam is being tracked by the U.S. government and has been looked into since 2013. The Problem With Passwords. Our advice?
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.
As AiTM fraud rises, businesses must adopt multi-layered security, biometric authentication, and user education to stay ahead of evolving threats. These techniques exploit system vulnerabilities, emphasising the need for strong security measures to protect sensitive data.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content