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 only way to reduce the encryption blast radius is to keep moving forward and embrace the advancements the technology has undergone over the years.
Open banking promises to make financial services apps more convenient, but there's still a lot of confusion about how financial firms will protect customer data from rogue third parties.
New Year, New Account Fraud: Identity Theft May Be Holding Back Your Customer Experience Resolutions
Financial institutions looking to improve the customer experience in 2018 should implement multilayered security solutions to crack down on identity theft and detect new account fraud.
To meet PCI compliance, organizations must implement multifactor authentication, as opposed to a multistep process, to protect the cardholder data environment from unauthorized access.
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.
A new cybergang operating a recent variant of the Ursnif Trojan has planted its flag in Australia, targeting banking customers with redirection attacks.