ATM Heists Only Set to Accelerate After $13M Break-In
The Cosmos Bank incident is only the latest, not the last, thanks to lagging security practices. Continue reading ATM Heists Only Set to Accelerate After $13M Break-In
Category Archives: banking security
Application Security Attacks: Will New NYDFS Regulation Protect NYC Financial Institutions?
New regulation requires all financial institutions in New York City to conduct thorough risk assessments for application security and other IT issues and implement programs to address those risks.
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Mobile Financial Transactions Are Faster, But Are They Any Safer?
The mobile revolution has made it simpler and faster for banking customers to conduct financial transactions, but it has also expanded the attack surface for fraudsters aiming to steal sensitive data.
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Open Banking: Tremendous Opportunity for Consumers, New Security Challenges for Financial Institutions
New security standards around open banking focus on multifactor authentication and monitoring of transactions but largely ignore device security.
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IBM Identity Study Shows Security May Be Financial Services Firms’ Best Defense Against Disruption
According to the “IBM Future of Identity Study,” consumers are beginning to prioritize security over convenience, making trust a crucial competitive advantage for financial institutions.
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How Cybercriminals Use Money Mule Accounts to Profit From Online Fraud
As cybercriminal tactics evolve, banks must employ fraud detection solutions that leverage artificial intelligence to evaluate new registrations for signs of money mule activity.
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How Cybercriminals Use Money Mule Accounts to Profit From Online Fraud
As cybercriminal tactics evolve, banks must employ fraud detection solutions that leverage artificial intelligence to evaluate new registrations for signs of money mule activity.
The post How Cybercriminals Use Money Mule Accounts to Profit From Online Fraud appeared first on Security Intelligence.
Continue reading How Cybercriminals Use Money Mule Accounts to Profit From Online Fraud
Open Banking and PSD2: Disruption or Confusion?
If you’re not yet familiar with the concept of open banking, you’re not alone. U.K. consumer advice firm Which? reported that 92 percent of the public is unaware of the initiative, which officially launched on Jan. 13, 2018, to promote the use of application programming interfaces (APIs) to enable developers to build applications to augment […]
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Closing ATM Network Security Gaps to Stop Fraudsters in Their Tracks
Banks are already privy to the threat of physical breaches, but many remain unaware of the ATM network security gaps that could enable fraudsters to access their systems.
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Security Flaw Left Major Banking Apps Vulnerable to MiTM Attacks Over SSL
A team of security researchers has discovered a critical implementation flaw in major mobile banking applications that left banking credentials of millions of users vulnerable to hackers.
The vulnerability was discovered by researchers of the Security… Continue reading Security Flaw Left Major Banking Apps Vulnerable to MiTM Attacks Over SSL