Whether and organization or an individual, identity theft spells a long, expensive, and complex recovery process. However, online identity theft can be prevented with encryption software and advanced password protection.
The data security challenges for financial services providers—from the solo accounting professional to the midsize accounting firm to world’s largest corporation, from CPAs to CFPs to credit counselors—have never been as challenging as they are in today’s turbulent times. And although the large data breaches at the most recognizable companies receive the most publicity, small companies and solo offices can also be victims, according to the Better Business Bureau.
The data security challenges for financial enterprises have never been as challenging as they are in today's turbulent times. Not only must financial enterprises comply with regulations such as SOX, GBLA and PCI along with a multitude of state regulations concerning customer privacy and electronic data security, they must also guard against the staggering costs—both tangible and intangible—that a security breach can incur.
The data security challenges in the healthcare industry have never been as challenging as they are today. Not only must healthcare providers comply with HIPAA regulations concerning patient privacy and electronic data security, they must also guard against identity theft as well more complex scenarios of insurance data theft, medical identity theft and the adulteration of health records.
The holistic, integrated fraud-prevention platform from Trusteer, an IBM company, effectively protects financial institutions against the full range of attack vectors responsible for the majority of online and cross-channel fraud, including account takeover.
Phishing is defined by the Financial Services Technology Consortium (FSTC) as a broadly launched social engineering attack in which an electronic identity is misrepresented in an attempt to trick individuals into revealing personal credentials that can be used fraudulently against them. In short, itís online fraud to the highest degree.
Although itís been around for years, phishing is still one of the most common and effective online scams. The schemes are varied, typically involving some combination of spoofed email (spam), malicious software (malware), and fake websites to harvest personal information from unwitting consumers. The explosive rise of mobile devices, mobile applications, and social media networks has given phishers new vectors to exploit, along with access to volumes of personal data that can be used in more targeted attacks or spear phishing. The fact that phishing attacks are still so common highlights their efficacy and reinforces the need to implement comprehensive phishing and response plans to protect organizations.
An effective phishing protection plan should focus on four primary areas: Prevention, Detection, Response, and Recovery. High-level recommendations for each of the four areas are outlined in this whitepaper.
Each year we examine trends in fraud reported to Q2 by our partner
institutions, and every year we continue to see online banking fraud
attempts in great frequency. While we may see patterns emerge or spikes
in new trending behavior, the foundation of an effective defense remains
consistent. Examining trends in online banking and cybercrime is crucial to
navigating the current threat landscape, as is maintaining a solid defense-indepth
For a long time, the phone channel was thought to be
isolated and less important to defend, when compared
to the physical and online channels. The general consensus
was that fraudsters could only steal so much over the
phone, and it had little impact on fraud across the rest of
But those assumptions are wrong, and theyíre becoming
grossly inaccurate as technology evolves. The phone
channel is now more vulnerable and exploitable than ever
before, as annual fraud loss is now a $14 billion problem.
Between aggressive fraud rings, social engineering and
sophisticated techniques, vulnerable call centers are
feeling the sting. Legacy and stand-alone solutions wonít
stand up to the perseverance and lengths to which fraudsters
are willing to go.
"As online fraud detection grows in complexity and demand, what qualities should security and risk management leaders look out for in a solution? Get key recommendations for navigating the online fraud detection market from Gartner Research.
READ THIS GUIDE TO FIND OUT:
Where the online fraud detection market is heading
A list of vendors in the online fraud detection space, and their capabilities
Recommendation for how to incorporate AI and machine learning into your fraud prevention approach
Fraud prevention and content moderation take center stage.
Trust & Safety is good business
Change your password often. Keep your virus software up to date. Beware of
so-called princes from Nigeria. These are the costs of doing business online.
Since its inception, the internet has always had its share of bad guys. And as
nearly all companies move to a more digitally enabled world, the thieves, con
artists, and hackers are finding new ways to steal money, information, and
disrupt the world in a bad way.
Having a trustworthy and safe brand is now a differentiator, especially from
companies that operate primarily online. But itís becoming harder to keep up
as technology advances and information moves quicker every day.
This eBook details how companies can protect their brand and keep customers
safe by enabling fraud prevention and content moderation strategies and tactics.
DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
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