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Cyber Threats Surge in India’s Financial Sector

Fintech News

These advanced impersonations, which use convincing AI-generated audio and video, trick users into revealing multi-factor authentication (MFA) codes or approving unauthorized authentication requests. India is experiencing a rise in deepfake identity fraud, with cases surging by 550% since 2019. billion) in 2024 alone.

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How PCI DSS Compliance Protects Australian Businesses from Data Breaches?

VISTA InfoSec

A brief introduction to PCI DSS PCI DSS is a global data security framework that protects businesses handling cardholder data (CHD) from data breaches, fraud, and identity theft. So, if you are wondering why you should invest in PCI DSS compliance in Australia and how it can safeguard your organization, keep reading to find out.

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Multifactor authentication is still hackable

Payments Source

MFA stops broad attacks, but more targeted hacks can still get through, says KnowBe4's Roger Grimes.

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Digital Identity Verification 

Segpay

The Importance of Reliable Digital Identity Verification In a digital world, ID verification is a trust-building mechanism that protects both the user and the organization. Digital identity verification solutions speed up and make the onboarding process much more efficient.

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Deep Dive: Orchestrating Complex Authentication And Fraud Decisioning

PYMNTS

It can also help financial institutions (FIs) assess data from multiple channels, create seamless connections and enable them to make complex authentication decisions and detect fraud in real time. Estimates suggest that synthetic identity theft is responsible for approximately 80 percent of the banking industry’s credit card losses.

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What is Third-Party Fraud?

Fi911

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

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Guarding the Gates: Data Compliance and Privacy

Segpay

The Intersection of Data Privacy and Identity Management Source: ID Management Institute Identity management helps authenticate users and makes sure that only authorized individuals can access certain information. In identity management, this means gathering only what is strictly needed for authentication.