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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

These updates include increased flexibility for businesses and stronger authentication requirements, ensuring better protection in todays dynamic digital landscape. Access control and authentication PCI DSS enforces stringent access control measures, ensuring that only authorized personnel can access sensitive payment card data.

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PCI Compliance for Banking Professionals

Fi911

Identify and Authenticate Access to System Components: Use multi-factor authentication (MFA) to strengthen access controls. Enhanced Authentication Strengthened requirements for authentication methods, such as mandatory MFA for all access to cardholder data.

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Wallet wars: How digital payments are reshaping finance

The Payments Association

Technological advancements, including NFC, QR codes, and biometric authentication, have made digital wallets more user-friendly and secure. Adopt multi-factor authentication (MFA) and biometric verification to reduce fraud risks. Regulatory challenges Regulators are in a race against time.

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Runa Introduces Runa Assure: Proactive Security for Payout Protection

Fintech Finance

Key security features include: Advanced Machine Learning Fraud Detection: Prevent unauthorized access with IP Allowlisting & Multi-Factor Authentication (MFA), and monitor suspicious activity with user behavior analytics.

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Credit Card Processing for Small Business: Everything You Need to Know

Stax

The fact that the customer is not present physically at your store makes it a high-risk transaction, and the use of security measures like two-factor authentication is highly recommended. A good example is restaurants that accept customer takeout orders over the phone.

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Navigating the rise of AI-enabled fraud

The Payments Association

However, In addition to adopting advanced fraud detection tools, payments firms must implement robust authentication methods such as multi-factor authentication (MFA), biometric verification (e.g., fingerprints, facial recognition), and behavioural biometrics (e.g., keystroke dynamics or mouse movements).

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