Adam Lowe, Ph.D.’s Post

Fraud threats continue to evolve, and call centers, particularly in the financial sector, face significant challenges. 📈 60% of financial industry respondents say most account takeovers start in call centers, up from 24% in 2021. 𝗕𝗮𝗱 𝗮𝗰𝘁𝗼𝗿𝘀 𝗲𝘅𝗽𝗹𝗼𝗶𝘁 𝘃𝘂𝗹𝗻𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 𝘀𝘂𝗰𝗵 𝗮𝘀: 1️⃣ The limitations of knowledge-based authentication questions, 2️⃣ The susceptibility of one-time passcodes (OTP) to interception, 3️⃣ And the challenges faced by customer service representatives in identifying fraudulent actors, leading to significant security breaches. 🛡 The need for advanced security measures to safeguard customer interactions and prevent unauthorized account access is more evident than ever. 👉 𝗛𝗲𝗿𝗲'𝘀 𝗵𝗼𝘄 Trust Stamp 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽: https://lnkd.in/eDRf2fPC #banking #fintech #callcenterfraud #identityfraud

Interesting article on how cybercriminals steal one-time passcodes for SIM swap attacks and accessing bank accounts.

15 banks were targeted by a hacker who released login credentials for sale on the dark web. “Financial institutions worldwide remain prime targets for cyberattacks, with the IBM Cost of a Data Breach Report 2023 highlighting the sector’s vulnerability.” Learn more: https://lnkd.in/gyRCbkVe #cybersecrurity #threatalert #cyberattack #cyberrisk #informationsharing

☠️ [80% of data breaches are caused by passwords]☠️ ❎Yet, more than 50% of online users reuse passwords across multiple accounts. That's why FIs are spending a big chunk of their budget on digital identity authentication, according to the Datos Insights 2024 Trends in Fraud report. ✔️Update your outdated password technology and start decreasing digital banking fraud today. 🎓Learn how: https://lnkd.in/enMsZiG4

☠️ [80% of data breaches are caused by passwords]☠️ ❎Yet, more than 50% of online users reuse passwords across multiple accounts. That's why FIs are spending a big chunk of their budget on digital identity authentication, according to the Datos Insights 2024 Trends in Fraud report. ✔️Update your outdated password technology and start decreasing digital banking fraud today. 🎓Learn how: https://lnkd.in/e6duPNtU

Still banking like it's 1999? 📞 Believe it or not, many still fear mobile banking and avoid it. But modern banking platforms utilize top-tier encryption, firewalls and fraud monitoring - they're incredibly secure! However, a few 21st century mistakes can still put your info and funds at risk: - Using public WiFi for banking tasks 📶 - Downloading questionable apps that can steal credentials 🤨 - Clicking phishing links in texts or emails 🎣 - Using weak passwords or sharing them openly 🤐 Stay vigilant, but don't let fears of the unknown prevent utilizing secure digital banking tools! https://lnkd.in/dJpPXV2G

☠️ [80% of data breaches are caused by passwords]☠️ ❎Yet, more than 50% of online users reuse passwords across multiple accounts. That's why FIs are spending a big chunk of their budget on digital identity authentication, according to the Datos Insights 2024 Trends in Fraud report. ✔️Update your outdated password technology and start decreasing digital banking fraud today. 🎓Learn how: https://lnkd.in/e7QvyamQ

☠️ [80% of data breaches are caused by passwords]☠️ ❎Yet, more than 50% of online users reuse passwords across multiple accounts. That's why FIs are spending a big chunk of their budget on digital identity authentication, according to the Datos Insights 2024 Trends in Fraud report. ✔️Update your outdated password technology and start decreasing digital banking fraud today. 🎓Learn how: https://lnkd.in/ehJHUQaQ

☠️ [80% of data breaches are caused by passwords]☠️ ❎Yet, more than 50% of online users reuse passwords across multiple accounts. That's why FIs are spending a big chunk of their budget on digital identity authentication, according to the Datos Insights 2024 Trends in Fraud report. ✔️Update your outdated password technology and start decreasing digital banking fraud today. 🎓Learn how: https://lnkd.in/g4-yxD_B

☠️ [80% of data breaches are caused by passwords]☠️ ❎Yet, more than 50% of online users reuse passwords across multiple accounts. That's why FIs are spending a big chunk of their budget on digital identity authentication, according to the Datos Insights 2024 Trends in Fraud report. ✔️Update your outdated password technology and start decreasing digital banking fraud today. 🎓Learn how: https://lnkd.in/eVPTv35A