Last year was an unprecedented time for cyber security and fraud with a record number of exploited vulnerabilities and high-profile breaches. Read more
There’s a sucker born every minute. And for each sucker there are hundreds of scammers waiting to take advantage of them.Now, with the Olympic Games Read more
If they haven’t already done so—or haven’t done so in a while– financial institutions in the United States will need to take a fresh look Read more
We’re proud to announce that we have been included among mobile fraud management solution vendors Read more
There’s been a lot of chatter recently about Millennials and their overall impact on the global economy. Read more
Reports from around the world have been detailing data theft from banking and messaging mobile apps, including Whatsapp, Facebook and SMS services over the last few months. Read more
Apple’s app review process is excellent at preventing malware from infiltrating their store, but last week proved even the best security practices can be overcome by inventive fraudsters. Read more
Over the last two years, we have seen a tremendous increase in mobile malware, which grew 167 percent in the past year, according to the June 2014 McAfee Labs Threat Report.
Here are two major reasons why mobile malware is increasingly the preferred method of attack for fraudsters:
1. As EMV technology is deployed in the US, the amount of fraud attributed to counterfeit cards will decrease.
2. Telecommunications providers will no longer allow premium text message services to bill customers, lowering the volume of fraud via premium SMS messages.
One of the things that we do at Easy Solutions, to help protect banks from fraud, is perform passive monitoring on paste sites, social media sites, and the black market. We see all kinds of crazy things and we wanted to share this example. In the case below, we found what appeared to be source code for one of our client’s mobile banking apps. We pay attention to this kind of thing because evidence of publication of source code can lead directly to increased attacks-especially as they relate to mobile apps.
Mobile Banking offers considerable promise for true interaction with customers as well as key differentiators to attract gen Y consumers. Simple and stronger authentication is key to manage risk and to ensure continued success in the mobile market.
The first generation of strong authentication for mobile typically utilized the same authentication factors as the online banking channel. This approach was mostly driven by the need to go to market quickly and also cost considerations. The most common method at that time was to use traditional static challenge questions.