The financial services industry is in the midst of sweeping change. Earlier this year, we saw one of the latest shifts with the introduction of the European Union's revised Payment Services Directive (PSD2). PSD2's Strong Customer Authentication (SCA) section requires two factors for authentication.
A database security blunder revealed on Friday serves as a reminder that the days of SMS-based authentication should be over. The exposed database, which wasn't protected by a password, contained 26 million text messages, many of which were two-step verification codes and account-reset links.
Is it realistic to think the end of our dependency on traditional user names and passwords is in sight?
While user names and passwords may not be phased out in the near-term, eventually there will not be online services that have anything of value that don't offer multiple types of two-factor authentication....
French film production and distribution company Pathe fired the two senior managers overseeing its Dutch operations after they fell victim to a business email compromise scam and approved $21 million in transfers to fraudsters. Many organizations remain at high risk from such scams.
By establishing a trusted digital relationship with users, insurers can enable legitimate consumers to apply for new policies and legitimate providers and insurance professionals to log in to their accounts without onerous authentication requirements, while requiring users identified as high risk to fulfill additional...
To deliver a better, frictionless experience, organizations should consider real-time, multilayered, omnichannel identity trust assessments that analyze a wide variety of intelligence - including network, device, environment, behavioral and global intelligence.
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As we approach 2019, is it realistic to think the end of our dependency on traditional user names and passwords is in sight? Shane Weeden, and authentication expert with IBM Security, discusses the future of authentication and why he's encouraged by the FIDO2 initiative.
You don't have to be a bank to serve customers online, and even if your customer accounts do not hold money, they still hold value - one that cybercriminals will take advantage of. As customers come to expect services to be available online as the standard, more businesses will have to learn to adapt to the digital...
Identity and access management is not about compliance anymore - It's really about security, says Gartner's Felix Gaehtgens. With cloud, virtualization, DevOps and other IT trends, IAM has evolved from being a one-off project to an ongoing initiative.
Australian police have charged a woman in the theft of AU$450,000 (US$318,000) worth of the virtual currency XRP, also known as Ripple, in one of the largest cryptocurrency thefts from a single victim. The case highlights how basic security messaging on protecting cryptocurrency isn't getting through.
Driven by digital transformation and regulatory and industry initiatives such as PSD2, 3D Secure 2.0, and Faster Payments, the need to provide strong authentication without impacting customers and transactions is a top business imperative.
To make it easier for you to evaluate the market (and not get distracted by...
What can organizations do to thwart business email compromise attacks? In an interview, David Stubley, CEO of the consultancy 7 Elements, outlines several key steps. He'll be a featured speaker at Information Security Media Group's Security Summit: London, to be held Sept. 23.
As more companies move away from passwords toward behavioral biometrics, they face new challenges, says Rajiv Dholakia, vice president, products at Nok Nok Labs. "There are no standards as such in this area on how the information is collected, how it's stored and how it's processed," he says.
In Australia, it can take as few as 15 minutes to steal someone's phone number, a type of attack known as SIM hijacking. Such attacks are rising, but mobile operators have no plans to change the authentication required around number porting, which can be set in motion online with minimal personal information.
Security thought leaders have long called for organizations to shift from a conventional "peacetime" view of cybersecurity to more of a "wartime" mindset. Aetna CSO Jim Routh now says it's time for enterprises to shift from conventional to unconventional security controls.