The European Central Bank has drafted a set of recommendations to increase the security of online transactions in the European Union. The expectation is to implement these recommendations as minimum standards for online payment security which internet payment service providers in the EU must meet by mid-2014. Read More
IBM Predicts Biometrics to Replace Passwords in Five Years
According to IBM, the biometric technology they are continuing to develop, such as retinal scans and voice recognition, will replace passwords and other memory-based authentication techniques in many commercial applications sometime in the next five years. Read More
More Account Takeover Attempts but Less ACH Fraud
ACH fraud resulting from account takeover has persisted as a serious threat to businesses, government offices and consumers spurring guidance from the Federal Financial Institutions Examination Council (FFIEC) titled Authentication in an Internet Banking Environment. In response to this guidance financial institutions have improved on their authentication techniques and while account takeover attempts have increased,
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