A quarter of financial institutions experienced at least one spear-phishing or business email compromise attack in 2019 where user credentials were compromised and/or fraud was committed. These attacks also often resulted in intellectual property and physical damage.
Yet, nearly half of institutions surveyed state...
Designing Security as a User Experience
The ongoing battle between attackers and defenders have left valid users caught in the middle. Protecting user accounts with aggressive security policies leads to false positives and needlessly locks valid users out of their account, while lenient security policies lead to...
A poor customer experience and insufficient security in the account opening process has been shown to directly and negatively impact long-term customer loyalty, retention and profitability. So, how do you provide a better and more secure customer experience in the digital account opening process?
More than 100...
A key disconnect exists between awareness of financial services fraud schemes and mitigation, according to the latest "Faces of Fraud" survey sponsored by Appgate. Mike Lopez, vice president at the firm, describes some key findings.
Account Takeover is one of the biggest threats that banks are facing today. With 3.8 billion data records compromised worldwide in 2018, it is evident that despite implementation of cybersecurity measures, digital channels remain vulnerable. Adversaries have a variety of weapons at their disposal, which makes...
The insurance industry has a significant fraud problem. Whether targeting the insurance carrier, broker or policyholder, scams are a large financial burden for all stakeholders.
Insurance firms must take deliberate steps to implement a comprehensive customer authentication and fraud prevention strategy.
In this...
The Phishing Attack
Situation
There's no way around it. Sending emails with
attachments, downloading web files and using
shared folders are a part of how we conduct
business and that's not going to change.
To counter the growing phishing problem, enterprises need better, faster and more comprehensive ways to...
Cyberattacks continue to plague organizations worldwide. Many of the largest and most damaging attacks stem from malware-infected files that evade traditional security solutions.
Security teams need a more effective and comprehensive solution to the problem of undetected malware not only affecting SecOps teams but...
Application fraud continues to be a significant problem for FIs across the U.S. As identity crimes continue to grow, it is increasingly difficult for FIs to determine who they are dealing with in all delivery channels.
Download this whitepaper to learn the effects of online application fraud in the banking industry...
The National Cyber Security Center, the U.K.'s national computer emergency response team, investigated 658 serious cybersecurity incidents in a 12-month period and supported nearly 900 victim organizations - most of whom learned they had fallen victim after being alerted by the center.
With consumers increasingly turning online to buy electronics, retailers stand to make significant gains in terms of eCommerce revenue. Unfortunately, growing online sales also raise the stakes on eCommerce fraud prevention. This report sheds light on consumer electronics online fraud patterns in, offering retailers...
Users are often lax about their own passwords to the dismay of many employers and organizations they transact with. Strong authentication is critical and organizations must be careful about security measures for their online customer transaction accounts - but when users become too frustrated during the login process...
Online Account Origination (OAO) fraud, also known as New Account Fraud, has grown 30% since 2017, with $1.3B losses in 2018. The increase in losses has a lot to do with fraud rings switching from automated attacks to human workers who submit applications manually, and utilize synthetic identities based on stolen...
To explore how credential stuffing attacks and brute force attacks differ, we need to understand what they are and how they operate. Here is a quick summary.
For financial institutions, every new customer heralds an opportunity - but if the organization doesn't know enough about that customer there may be risks as well. Using know your client (KYC) and customer due diligence (CDD) checks as an initial first line of defense in reducing the risk of money laundering and...
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