As life becomes more digitally connected, consumers increasingly expect that all online transactions will be highly secure, simple and convenient. This standard is especially strong among consumers who use digital banking to access their accounts across multiple digital platforms, including mobile apps and mobile- and...
In this month’s "Monetizing Digital Intent Tracker," Nitesh Harsh, director of risk portfolios for Cortex Management, tells PYMNTS about the urgent fraud prevention upgrade needed to fight modern fraudsters who weaponize consumer identity credentials.
Identity fraud is one of the most pressing cybersecurity threats today, with 2.5 million identities stolen each year and affecting more than 15 million people in the United States. This problem hurts individuals and organizations: A recent study found that stolen identities were the top...
Mastercard will be adding biometric options in which in-person payments can be completed with a smile or wave of the hand, using a face or fingerprint to make checkout more streamlined, a press release said. The program will set standards for ways to pay at...
In a team initiative to upgrade the security of the internet, Apple, Google, and Microsoft are expanding support for a passwordless sign-in standard created by the FIDO Alliance and the World Wide Web Consortium (W3C). “‘Simpler, stronger authentication’ is not just FIDO Alliance’s tagline —...
Digital fraud has become nothing short of a scourge in the online world, with bad actors pulling out all the stops to scam companies, governments and individuals out of their money or personal data. The Federal Trade Commission (FTC) reported that consumers lost $5.8 billion...
Single-layered security systems are no match against daily fraud threats that attempt to saturate automated defenses with multiple fake applications at once. In the latest "Monetizing Digital Intent Tracker," Ryan Prince, senior data scientist for Elevate, explains why behavioral analytics is a must-add to a...
While the pandemic accelerated the digital shift around the world, it also allowed fraudsters the opportunity to refine and build on their techniques. The Federal Trade Commission reported that in 2021, consumers lost $5.8 billion to fraudsters, but this number most likely is a lowball,...
Bonifii and Entersekt announced Thursday (April 21) a new biometric security offering aimed at the credit union market. Using MemberPass Express, the announcement states, a credit union member will be able to authenticate his or her identity using biometrics when completing an eCommerce transaction, visiting...
