Trusted Transactions | Entersekt Blog

Trusted Transactions | Entersekt Blog

Jolette Roodt, Writer/Analyst, Entersekt

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How are Europe’s PSD2 plans going?

Posted by Jolette Roodt, Writer/Analyst, Entersekt

May 9, 2017 9:33:00 AM

The clock is ticking for European Union member states to implement the European Banking Association’s Revised Payment Services Directive (PSD2) into their national laws, with the cut-off date of 13 January 2018 only nine months away. As we wrote here, these regulatory standards will give third-party providers (such as retailers and fintechs) access to the account information of banks’ customers, providing that these customers give their consent. The standards also dictate that two-factor authentication (2FA) must be in place when users access their accounts or make payments.

 

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Topics: Regulatory guidance

What’s behind the brisk growth of risk-based authentication?

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Apr 25, 2017 10:00:00 AM

The move to chip cards in the United States has been touted as the trigger for the movement of fraud from card-present to card-not-present channels. The country’s dominant approach to combating this type of fraud is risk-based authentication. Is this because it has proven to be successful in preventing fraud, or is risk-based authentication’s attractiveness based on other considerations?

 

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Topics: Card-not-present authentication, User experience, Card-not-present fraud, 3D Secure

Trend alert: authentication acquisitions

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Apr 11, 2017 9:00:00 AM

Digital security is becoming a part of everyday life and is no longer something only banks need to care about. As such, smaller-fry authentication companies are being picked up by big service-provider fish at a rate worth mentioning – and not for a song, either, as recent figures show. Why is this happening, and what does it spell for the future?

 

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Topics: Knowledge based authentication, Identity enablement

Why would you need MFA for healthcare?

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Feb 21, 2017 10:00:00 AM

Are reports of breaches at health providers sending your blood pressure skyward? Straightforward, effective authentication is just what the doctor ordered!

We tend to associate authentication with the obvious things we want to protect, like the money in our bank accounts. Increasingly, consumers are also becoming aware of the inherent value of their personal email, social media interactions, and other account information – monetized as it now is on the black market. Few of them are yet aware of why the healthcare industry needs multi-factor authentication too. Where would you use it, and how would it work?

 

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Topics: Data breaches, Privacy, Insurance, Healthcare

Home-turf victories for Entersekt

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Jan 26, 2017 10:00:00 AM

During 2016, many of Entersekt’s social media posts focused on our current global expansion, particularly into Europe and the United States. Among these exciting developments was FirstBank’s choice of our Transakt product to secure their mobile app and enable Touch ID authentication. We were also proud to announce our partnerships with CREALOGIX, Netcetera, Blue Bay, Backbase and IST Networks. Meanwhile, we have also been doing well on the home front.

 

  

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Topics: Entersekt news

Russian hackers making borscht of banks worldwide

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Nov 17, 2016 10:30:00 AM

As if the nearly $44 million that Russian cybercriminals stole from banks in their own country between June 2015 and June 2016 weren’t enough, these fraudsters seem to be moving on to greener pastures abroad. Stealing directly from banks as well as from individual online accounts, Russians have started targeting the rest of Europe – and the rest of the world.

 

 

 

 

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Topics: Mobile app vulnerabilities, Data breaches, Malware

No branch required: the rise of digital-only banks

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Nov 3, 2016 10:00:00 AM

Banking is increasingly moving away from brick-and-mortar branches and into the digital domain. Some banks have opted out of having physical branches at all and operate as so-called digital-only banks. Who are these banks, and how are they faring compared to traditional financial institutions? Let’s take a closer look.

 

 

 

 

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Topics: One-time passwords, SMS OTP/ mTAN, User experience

Fraud thriving Down Under

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Sep 29, 2016 3:10:59 PM

Australia and New Zealand seem to have become prime targets for cybercriminals over the past few months. As a target, Australia is under the top 10 in the world for phishing, malware, and fraud. According to Symantec strategist Mark Shaw, 108 cybercrime attacks occur in New Zealand every day; during 2015, the country’s global rank rose in five out of six threat categories: spam, phishing hosts, bots, network attacks, and web attacks. It also had the eighth-highest proportion of global phishing traffic. More than 856,000 New Zealanders are estimated to have been affected by cybercrime last year, at a cost of 257 million New Zealand dollars (186 million US dollars) to the economy.

 

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Topics: Regulatory guidance, One-time passwords, SMS OTP/ mTAN, Entersekt white papers

Fraud-not-present: How false declines cost US merchants more than prevention

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Sep 8, 2016 10:00:00 AM

A recent report by BI Intelligence found that, unsurprisingly, card-not-present fraud is rising in the US, now costing merchants 1.47 percent of their annual revenue (up from 0.51 percent in 2013). Card issuers, processors, and acquirers alike are enforcing increasingly strict rules for blocking suspicious transactions (for example, refusing transactions that have conflicting billing and shipping addresses or out-of-date card information).

 

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Topics: Card-not-present authentication, 3-D Secure, Card-not-present fraud

How to secure digital banking in the world’s wealthiest region

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Aug 23, 2016 11:00:00 AM

Global Finance recently published their 2015 rankings for the richest countries in the world. Not surprisingly, five out of the wealthiest twelve are located in the Middle East: Bahrain (12), Saudi Arabia (11), the United Arab Emirates (7), Kuwait (5), and Qatar (1).

 

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Topics: One-time passwords, SMS OTP/ mTAN

About Trusted Transactions

Trusted Transactions is Entersekt's blog devoted to keeping our customers, prospects and friends updated with industry news, security threats and technology advances in consumer authentication. We can protect against online banking fraud and account takeovers. Trusted Transactions brings you industry data and insights to help safeguard your online and mobile banking and payments transactions. 

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