Remove Encryption Remove Phishing Remove Scams
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What You Need to Know About Singapore’s Most Common Payment Fraud

Fintech News

Phishing continues to be one of the most prevalent scams affecting both consumers and businesses. Even in a highly secure payment environment with the widespread adoption of multi-factor authentication (3DS), phishing remains a major concern. Below are the most common types of fraud found now.

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Navigating the rise of AI-enabled fraud

The Payments Association

Understanding AI-enabled fraud As fraudsters invest in more sophisticated technology, including deepfakes, synthetic identities and automated phishing, the need for payments firms to adopt better AI-driven fraud detection systems grows. The payments sector is investing heavily in AI technologies to combat these rising threats.

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How to Choose Between EFT vs ACH: A Comprehensive Guide

Stax

The Electronic Funds Transfer Act (EFTA) also requires added security features, such as multi-factor authentication, end-to-end encryption, and tokenization. Security risks: Phishing scams, theft, and hacking make EFTs a less secure option than ACH. These help protect both businesses and customers against potential fraud.

ACH
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The Top Payment Methods For Small Businesses

Stax

Its role is to encrypt and securely transfer your customers payment data to your payment processor. All the data transfer between the digital wallet and your payment terminal are encrypted and the system also uses tokenization to ensure iron-clad data security.

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Advanced Data Security: Safeguarding Your Business In The Digital Age  

VISTA InfoSec

Next, analyze potential risks like malware infections, phishing scams, or disgruntled team members leaking sensitive data. Implement a solid backup strategy to renew your operations after disruptive incidents like ransomware encryptions, hardware failures, or accidental deletions. Outdated software?

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Securing Mobile Apps Against Malware and Phishing Attacks in Indonesia

Fintech News

While this digital transformation offers undeniable convenience, it also introduces new challenges to mobile security in Indonesia Malware and phishing attacks pose a significant threat to the integrity and security of financial platforms, jeopardising both user data and financial security. A 2023 report by Kaspersky found that 40.8%

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Data Breaches 101: What They Are And How To Prevent Them

VISTA InfoSec

Encrypt Data Flows Implement encryption for data in transit over networks and at rest within databases/servers to ensure meaningless ciphertext even if intercepted. Accidental data leaks by insiders mishandling information also trigger breaches frequently.