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Once your customer enters credit card information on the checkout page of your website, your payment gateway will encrypt the information and forward it to your payment processor for authorization and settlement. It serves as a link between your website and your payment processor. You are likely better off opting for a third-party platform.
Mutli-Factor Authentication (MFA) isn’t a new concept. However, despite this, there is still confusion surrounding the mechanism and how it adds to cyber defense. This article unravels the mysteries of MFA and how it can be used to strengthen cyber defenses. Another mechanism that is heavily relied on is MFA.
This process, known as Customer DueDiligence/Know Your Customer (CDD/KYC) is a regulatory requirement aimed at the detection and prevention of money laundering (AML), fraud and other illegal activities. Enhanced DueDiligence (EDD), ongoing transaction monitoring of existing customers, is also an important part of the entire process.
Thankfully, as BEC attacks are often a product of human error, many can be avoided with duediligence and training – both of which can be enhanced with the right fraud prevention tools. Use multi-factor authentication (MFA) to alert you immediately to an unrecognized sign-in attempt. Reported losses in 2020 exceeded $4.2
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