One of the biggest challenges facing banks today is how to provide secure and trusted services while substantially improving customer experience. Fraud is an ever-present and increasing threat in an environment where bank customers are demanding a seamless and consistently satisfying experience across all service channels. These goals must be achieved without increasing cost or complicating the compliance process.
A new version of the Gozi banking trojan that is currently active in Japan, Spain, and Poland, has the ability to go undetected by some behavioral biometrics security measures, according to a report by Softpedia. The new Gozi version targets a range of financial organizations including PayPal, CitiDirect BE, ING Bank, Société Générale, BNP Paribas, and the Bank of Tokyo. This latest version of Gozi is not related to GozNym, another banking trojan that been circulating following last year’s leak
Technavio analysts forecast positive growth for many segments of the global automatic identification system market over the next four years due to increased revenues in several markets, including access control solutions, contactless smart cards and palm vein biometrics. The high convenience of contactless smart cards and its extensive adoption by governments to meet their escalating security needs is helping to drive the growth of the global contactless smart cards market, resulting in a CAGR of close to 33% during the
A database has been breached and biometric data is “in the wild”. Conceivably, this stolen data could be used by the perpetrators to hijack a user’s identity and gain fraudulent access to restricted areas, bank accounts, healthcare records — wherever biometric authentication is securing valuable assets. What can be done to render biometric data useless to any would-be impostor? The white paper “Protecting Against Criminal Use of Stolen Biometric Data” discusses numerous tactics and best practices that should be considered
Some form of identity theft is at the heart of most financially-motivated fraud. Identity fraud and its derivative crimes cost banks, retailers, healthcare providers, governments, and ultimately consumers and taxpayers around the globe hundreds of billions of dollars every year This whitepaper can be downloaded — free of charge — and the reader can learn more about cloud-based biometric identity proofing and authentication services for mass markets.
A recent ABC News report says that U.S. authorities are warning that ISIS is producing authentic-looking passports with machines that the terrorist group captured during the Syrian conflict. The news organization obtained access to a 17-page intelligence report created by the Department of Homeland Security for local law enforcement agencies which noted that ISIS likely has been able to print legitimate-looking Syrian passports since taking over the city of Deir ez-Zour last summer. That city was home to a passport
November 26, 2015 Planetarium Amsterdam, Kromwijkdreef 11, 1108 JA, Amsterdam, Netherlands Biometrics in Banking and Payments is designed to provide executives responsible for lines of business, distribution, and IT in the banking, payment and insurance business with inspiration to improve their processes and business. Participants will be able to familiarize with biometric applications that can support their organizations by learning how biometrics can support in optimizing key aspects of the banking and payment processes: optimizing customer interaction, operational efficiency and
A growing number of Massachusetts-based fraudsters are crossing state borders to New Hampshire in an effort to go undetected by the Massachusetts Registry of Motor Vehicles (RMV) facial recognition system that notifies police when applicants attempt to attain multiple driver’s licenses, according to a report by Boston Herald. New Hampshire State Police has already experienced a rise in arrests this year of driver’s license fraudsters, said Sgt. Andrew Player, who heads up an investigations unit that specializes in RMV fraud.
The Center for Identity at The University of Texas announced it will host the fifth annual ID360: The Global Forum on Identity 2015 conference on May 5-6 at the Hilton Austin. This year’s forum will explore “The Identity Economy,” with a focus on economic matters related to identity, cybersecurity and personal information. Personally identifying information (PII) is a relatively new currency on the Internet that is used to gain access to all forms of goods, services, networks and devices. Free
U.S. criminals have been using stolen identities and credentials to purchase high-value goods through the Apple Pay mobile payment system, according to a report by The Guardian. Many U.S. banks have been seeing a growing level of fraud, and some of these institutions have implemented better verification systems to combat this issue head on. Since launching in the U.S. last October, Apple Pay – which is controlled by a fingerprint wireless payment mechanism available on iPhone 6 and 6 Plus