In 2016, we published more than 50 blog posts about authentication, fraud trends, data breaches, new attacks, fraud prevention best practices and more. We also developed more content based on our research team’s findings to better protect against fraud. We are committed to publishing more cutting-edge information in 2017, as well.
The following is a list of the most popular Easy Solutions blog posts from 2016 in case you missed them!
In this digital transformation era, every organization can easily become a target for social engineering, leading to a dangerous viral spread of misinformation. It’s much easier for fraudsters to trick victims into divulging sensitive information than it is to hack usernames and passwords. That’s the key reason scams via social media, search engine ads and mobile apps are on the rise.
Big brands are taking notice and re-thinking the way they engage with Millennials — a growing and changing faction of the population. This is especially true for banks, which recognize that Millennials are ‘digital natives’ who interact with products and brands differently than previous generations and who value convenience over online security.
It’s not only harmless software being shared after a hack. Democratization is driving an explosion of malware sharing and community-maintained hacking tools. Ten years ago, hacking tools were mostly closed-sourced and exclusively maintained by small crews. Today, cybercrime is a global problem, and it is spreading rapidly thanks to increased access to quality tools and modern proof of concepts.
Fraud prevention solutions are critical to an organization’s success. Those who are able to accurately identify fraud patterns and develop systems to accurately predict and mitigate them are in the driver’s seat. Data scientists apply mathematical, statistical and substantive knowledge to develop effective fraud prevention strategies.
Hastily made decisions regarding fraud protection could have detrimental ripple effects that erode a company’s core. Companies and organizations that fail to take a proactive approach to fraud prevention risk appearing incompetent and irresponsible at best, resulting in loss of revenue and possibly, a tarnished brand.
Evidence is mounting that the ecosystem surrounding SWIFT transfers is vulnerable to fraud, and therefore not as secure as it once might have been. A solution with the capacity to record, track and contextualize all wire transactions passing from one bank account to another through SWIFT might have prevented some of the recent attacks.
The course of action to fight fraud threats used to be sending an end user an SMS message that contained a one-time passcode (OTP) in order to verify an online transaction, but eventually, that became insecure. Are we witnessing the death of the SMS-delivered OTP as an authentication factor?
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