Security & Fraud

Zoom To Strengthen Security For Its Paid Users

zoom, video, conferencing, coronavirus, pandemic, security

Zoom, the video conferencing platform that gained popularity in classrooms of all ages amid the coronavirus pandemic, is planning to beef up security measures for people who pay for a subscription, according to a Reuters report on Friday (May 29).

The new security measures were discussed during a call with civil liberties groups and child-sex abuse fighters, Zoom security consultant Alex Stamos told Reuters.

As per Reuters, Stamos said nothing permanent was decided and it was not known if “nonprofits or other users, such as political dissidents, might qualify for accounts allowing more secure video meetings.”

Stamos also said that privacy advocates had “mixed reactions” about the proposed plan.

Electronic Frontier Foundation researcher Gennie Gebhart was on the security call last week with Zoom and was hoping Zoom would offer wider privacy protections, the report indicated.

Conversely, Jon Callas, a technology fellow of the American Civil Liberties Union, said he believes Zoom’s approach is a “reasonable compromise.”

“Those of us who are doing secure communication believe we need to do things about the real horrible stuff,” said Callas, who previously sold paid encryption services.

Some institutions stopped using Zoom due to security failures, which prompted the company to release a technical paper on its encryption plans.

“At the same time that Zoom is trying to improve security, they are also significantly upgrading their trust and safety,” said Stamos, a former chief security officer at Facebook, per Reuters.

“The CEO is looking at different arguments. The current plan is paid customers plus enterprise accounts where the company knows who they are,” he said.

The Federal Trade Commission is said to be looking into privacy concerns regarding Zoom, Chairman Joseph Simons said last week.

 

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Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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