It has never been clearer that organizations are aware of the risks of fraud: in 2019 100% of financial institutions surveyed in the Faces of Fraud Report reported increasing or maintaining their budgets for fraud prevention.
It’s no secret that a layered approach is the key to a successful anti-fraud strategy.
In this digital age, there is no doubt that users demand a strong digital experience from their financial institutions.
We’ve said it before, and we’ll say it again: It’s time to get rid of passwords.
Machine learning (ML) is shaping the cyberworld and how users interact with organizations.
It's one thing to defraud a bank and its customers, but it is quite another for cybercriminals to get away with it.
As we get closer to the 60th anniversary of the digital password, the calls to ditch the antiquated technology are getting louder and more widespread.
Anti-fraud solutions are essential for financial institutions, but it is not enough to just protect an organization’s brand and end users; cyberattacks also target internal systems, employees, and sensitive data.
Cybercriminals are nothing if not persistent. A large financial institution with a global presence has been experiencing a series of sophisticated malware injection attacks – despite the steady failure rate, the cybercriminals behind the attack campaign continue to persist.
During my tenure as an IT executive in the banking sector, I experienced firsthand the frustration organizations face when they have been targeted by a phishing attack but are unable to learn much more than that.