Collaborate Disseminate
I just called a number that I thought was my bank’s and reached a customer service representative that asked me to verbally read to them a one-time passcode that was texted to my phone.
Is this standard practice?
I can’t imagine anybody bu… Continue reading Is reading off a OTP code over the phone standard practice?
A custodian bank has a client which is an investment arranger.
The funds of the investment arranger’s clients are held at the custodian.
The custodian has flagged one of the investment arranger’s clients as being an AML risk and has now fr… Continue reading AML information on the beneficial owner for clients of a custodian
A few years ago, an agent from the bank rang up to say my credit card was compromised. But first they wanted me to confirm who I was. I refused, they were ringing from a private number, they could be scammers, gathering my security quest… Continue reading How are the bank’s "voiceprint" authentication methods secure?
A bank I (previously) used in Australia forced users to comply with a 6-character limit on every password. Specifically, the rules were:
6 characters exactly, including at least 1 number and letter
No more than 2 repeating characters
No b… Continue reading My Bank Enforces A 6 Character Limit On Passwords. Is This Bad?
The bank of a friend changed password policy, such that you are limited to 20 characters. However, he used 24 letters before and thus was not able to log in anymore.
He called his advisor, who suggested, he should try to log in with the fi… Continue reading Should a bank be able to shorten your password without your involvement?
In Q1 of 2022, fintech companies experienced 2.5 times more attacks than in the two previous years. The growing rate of cybercrime has added to the market unrest and questioned fintech preparedness; some claimed that the industry players are more susce… Continue reading Threats targeting fintech companies are on the rise
What information about a cardholder does a payment receiver get when paid with credit card via direct transfer. Examples: Spotify, Netflix, etc… How’s all buying digital goods process released?
HSBC Bank plc (UK) has a OTP system to confirm online payments via SMS. The 6 figure number is sent to the user who enters it into the website. Sometimes the cards registered email address is requested at the same time. This is via a tex… Continue reading What is the value of no paste text boxes for bank web sites?
Marqeta has released its 2022 State of Consumer Money Movement report looking at consumer payment, banking and shopping preferences, showing digital adoption is on the rise. The company surveyed of 4,000 consumers across three continents, including 1,0… Continue reading Contactless is reigning: Consumers can’t even remember their PIN
In this video for Help Net Security, Tom Kellermann, Head of Cybersecurity Strategy at VMware, talks about threats against financial institutions and the findings of the Modern Bank Heists 5.0 report. There has been a dramatic uptick of attacks, not ju… Continue reading Modern bank heists: How can they be thwarted?