Banks need to build a good risk posture mechanism rather than continue with traditional handling mechanisms, says Vaibhav Khandelwal, head of security and fraud for Asia-Pacific, China and Japan at F5.
"Stimulus fraud" has influenced financial institutions (FIs) to shift their disposition toward managing mule activity.
This whitepaper is the product of a survey of 32 North American fraud executives as well as interviews with three fraud leaders who are actively engaged in transforming how their institutions...
A newly identified banking Trojan dubbed SharkBot is now targeting banking and cryptocurrency exchange customers across the U.K., Italy and the U.S. through a sideloading campaign and/or a social engineering campaign.
Vulnerabilities in Apple Pay, Samsung Pay and Google Pay allow attackers to make unlimited purchases using stolen smartphones enabled with express transport schemes, according to a research report from Positive Technologies. These findings were presented at Black Hat Europe this week.
In looking ahead to fraud transformation in 2022, it is good to
review where the conversation about 2021 began: with statistics
about perceptions and reality.
More than just survey results, this report offers expert analysis on
how to balance the competing priorities of business, customer and
compliance needs –...
Researchers at the University of Birmingham and University of Surrey say they have uncovered a vulnerability in the Apple Pay-Visa setup that could allow hackers to bypass iPhone’s Apple Pay lock screen, perform contactless payments and skirt transaction limits.
For fraudsters, there has been no respite. The fraud
economy took no pandemic hit. There was no
reduction in schemes among adversaries and they
experienced no job losses. Instead, shifts toward an increased dependency on digital channels have presented a myriad of new opportunities for illicit
financial gain....
Despite these financial headwinds, new ways are emerging for FIs to differentiate on the quality of fraud prevention and outreach they can provide to customers.
The latest edition of the ISMG Security Report features an analysis of lawmakers' grilling of Colonial Pipeline CEO Joseph Blount over his handling of the DarkSide ransomware attack. Also featured: How the FBI helped trick criminals into using an encrypted communications service that it was able to monitor.
Many governments are exploring Central Bank Digital Currencies to reduce costs and expand digital inclusion. Karen Hsu of AppDome discusses the opportunities and challenges for minting digital money.
In financial services, there is a stark difference between defending against authorized versus unauthorized fraud incidents. James Hunt of Bottomline Technologies discusses the schemes and how to respond with a more dynamic prevention strategy.
The mobile channel saw great user adoption in 2020 - and it saw a corresponding increase in fraud incidents. Tim Dalgleish of BioCatch discusses mobile fraud trends and the role of behavioral biometrics in enhancing user authentication.
When it comes to finance, mobile banking or payments apps, maintaining customer trust is crucial to protecting brand equity and revenue. Cloud technology has eliminated the traditional network perimeter, leaving unsecured mobile endpoints vulnerable to attack. According to recent analyst research, mobile finance apps...
The latest edition of the ISMG Security Report features an analysis of the cybersecurity challenges the Biden administration must address. Also featured: payments security advice from Verizon; the outlook for the lifting of restrictions tied to the COVID-19 pandemic.
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