Fintech News

MARCH 19, 2024

This collaboration will see Accredify integrating Okta’s advanced identity management solutions, including Single Sign-On (SSO) and Multi-Factor Authentication (MFA), to benefit its clientele. ” said Austin Arensberg, Senior Director at Okta Ventures.

MFA

VISTA InfoSec

DECEMBER 19, 2024

Know and Limit Access Prevent compromise of credentials Manage identities and segregate privileges 3.Detect Use multi-factor authentication (MFA) for SWIFT interfaces and applications. SWIFT CSCF v2024 key objectives and principles Below are the 3 key objectives and 7 principles, as defined in the updated SWIFT CSP framework.

SWIFT

VISTA InfoSec

JUNE 27, 2024

A joint investigation by Mandiant, Snowflake, and CrowdStrike revealed that Sp1d3r tracked as UNC5537, used stolen customer credentials to target at least 165 organizations that had not enabled multi-factor authentication (MFA) on their accounts.

FBI

PYMNTS

JUNE 25, 2020

Banks are leveraging multi-factor authentication (MFA) and machine learning (ML) to protect these systems, but customers fear this may not be enough. This month’s Deep Dive explores the financial crime threats that open banking systems face in their deployment, and how MFA and ML systems are being leveraged to protect them.

Financial Crimes

Fintech News

MARCH 25, 2024

However, behind the scenes, the malware captures the user’s login credentials, account information, and other sensitive data entered into the fake UI. The captured information is then sent to a remote server controlled by cybercriminals.

Mobile Banking

Fi911

JANUARY 18, 2024

They often accomplish this by obtaining the victim’s login credentials through phishing emails, malware, or other fraudulent means. New Account Fraud A new account is opened using fake or stolen credentials. Multi-Factor Authentication (MFA) Implementing MFA for customer authentication can significantly enhance security.

Account Takeovers

VISTA InfoSec

DECEMBER 19, 2024

Know and Limit Access Prevent compromise of credentials Manage identities and segregate privileges 3.Detect Use multi-factor authentication (MFA) for SWIFT interfaces and applications. SWIFT CSCF v2024 key objectives and principles Below are the 3 key objectives and 7 principles, as defined in the updated SWIFT CSP framework.

SWIFT

PYMNTS

FEBRUARY 8, 2019

Plus, professionals will often use paper or spreadsheets to keep track of those login credentials. The reliance on passwords means those credentials become more of a security liability than protector, as cyberattackers attempt to infiltrate enterprise systems. “We have a lot of customers not even employing MFA.

Phishing

CB Insights

FEBRUARY 20, 2017

Multi-factor authentication (MFA) is a security protocol that requires more than one unique credential to verify a user’s … Continued. Cybersecurity companies saw a record number of deals last year. This year, multi-factor authentication is one increasingly hot area within the cybersecurity industry.

Cybersecurity

PYMNTS

JUNE 8, 2020

PSD2 was designed with such risks in mind, and its Strong Customer Authentication (SCA) provision — which takes effect in participating countries throughout 2020 and 2021 — compels companies to verify users’ identities with multi-factor authentication (MFA) whenever they attempt to access user accounts or digitally send payments.

Authentication

PYMNTS

JULY 13, 2020

Bad actors attempting ATOs seek to gain control of victims’ bank accounts without alerting FIs, and they therefore aim to obtain the login credentials necessary to smoothly move through FIs’ authentication measures. Some of these attacks see bots entering random words and numbers, while others involve entering common usernames and passwords.

Credential

VISTA InfoSec

MAY 15, 2025

Prevent Compromise of Credentials 4.1 Implement robust authentication mechanisms such as MFA. Reduce Attack Surface and Vulnerabilities 2.1 Internal Data Flow Security 2.2 Security Updates 2.3 System Hardening 2.4A Back Office Data Flow Security 2.5A External Transmission Data Protection 2.6 Vulnerability Scanning 2.8

SWIFT

PYMNTS

JUNE 8, 2020

This also allows hackers to bypass in-app authentication procedures because it can be easier to steal API keys — the credentials developers use to build apps that harness APIs — than contend with apps’ biometric or two-factor authentication (2FA) processes.”. MFA and APIs Make A Good Pair. That’s changing now.

API

PYMNTS

JUNE 3, 2020

There were more than 473 million fraud attempts conducted against APIs between December 2017 and November 2019, with bad actors leveraging a plethora of techniques like credential abuse, SQL injections and distributed denial-of-service (DDoS) attacks. Deep Dive: Harnessing Authentication, Machine Learning To Counter B2B API Fraud.

Real Time Payments

PYMNTS

OCTOBER 21, 2020

This means that even one compromised account could threaten all others that rely on the same credentials, potentially costing victims a fortune in stolen money and data.”. Studies have found that using MFA can prevent more than 99.9 percent of attacks that utilize stolen credentials.”. P2P Is A Double-Edged Sword.

P2P

PYMNTS

APRIL 21, 2020

Companies can tighten security by requiring those seeking access to AP systems to undergo MFA [multi-factor authentication], which requires users to verify their identities with at least two types of credentials.”.

Scams

Seon

JUNE 15, 2023

Despite its versatility, BEC invariably involves the misuse of compromised login credentials, with the aim of accessing sensitive information located in various business accounts (not just email inboxes – fraudsters also target intranet documents, HR records, and plenty of other sensitive archives). Let’s take a look at some of the key ones.

Email Compromise

Seon

JANUARY 29, 2024

In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials. Educate your users: Remind users to prioritize password security, encourage the use of multi-factor authentication (MFA), and suggest the use of VPNs on public Wi-Fi networks.

Account Takeovers

FICO

SEPTEMBER 17, 2018

This layer covers password policies, two-factor and multi-factor authentication (MFA), device profiling, etc. If remote access or test credentials are not required beyond a specific implementation or maintenance phase they should be disabled promptly.

Cybersecurity

FICO

SEPTEMBER 19, 2018

This layer covers password policies, two-factor and multi-factor authentication (MFA), device profiling, etc. If remote access or test credentials are not required beyond a specific implementation or maintenance phase they should be disabled promptly.

Cybersecurity

Finovate

MARCH 5, 2025

.” Via 1Kosmos’ self-service identity verification workflow and passwordless MFA credential, users can either scan a QR code or click a smart link to initiate onboarding or to reset passwords. “Our customers often use different vendor solutions, and Microsoft Entra ID helps protect these diverse environments.

MFA

The Payments Association

FEBRUARY 17, 2025

When the victim enters their credentials, the attacker captures these details and may steal session cookies to bypass multifactor authentication (MFA). These schemes typically involve: Phishing emails : Crafted to trick users into sharing login credentials.

Phishing

VISTA InfoSec

JUNE 4, 2025

Prevent Compromise of Credentials 4.1 Implement robust authentication mechanisms such as MFA. Reduce Attack Surface and Vulnerabilities 2.1 Internal Data Flow Security 2.2 Security Updates 2.3 System Hardening 2.4A Back Office Data Flow Security 2.5A External Transmission Data Protection 2.6 Vulnerability Scanning 2.8

SWIFT

Fintech News

MARCH 1, 2025

Phishing & Social Engineering Hackers frequently trick users into revealing credentials through fake websites, emails, or impersonation. MFA adds another layer of security by requiring multiple verification steps before granting access. Key compromises often happen through phishing attacks, malware, or social engineering tactics.

Security

Segpay

DECEMBER 19, 2024

These providers offer features like single sign-on (SSO), multi-factor authentication (MFA), and identity governance, all delivered through a secure cloud environment. Additionally, IDaaS providers often integrate risk-based authentication, which adapts security protocols based on the users behavior, device, and location.

Verification

The Fintech Times

MAY 24, 2025

Enforce strong credential protections Credential stuffing campaigns and typosquatting attacks impacted a majority of firms. Enforcing MFA, monitoring for reused credentials and taking down spoofed domains are essential to protect users and prevent cross-platform compromise.

Cybersecurity