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Cybersecurity

Cyber Risk for U.S. Businesses Held Steady in Q1

According to a recent Assessment of Business Cyber Risk report, released by the U.D. Chamber of Commerce and FICO, the level of cyber risk to the U.S. business community held steady for the first quarter of 2019, with a national risk score of 687.

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Consumers Are on Board with Increased Mobile Security

With mobile transacting such as peer-to-peer payments, m-commerce purchases and bill pay on the rise, a recent survey from Atlanta-based Entersekt, a mobile-first fintech provider, focused on uncovering where security and authentication fall on the spectrum of concern for today’s mobile-driven consumers.

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Need a Way to Educate Your Customers About Phishing?

If you’re looking for a way to educate your customers about Phishing attacks, the American Bankers Association Foundation, in collaboration with the Federal Trade Commission, has released an infographic aimed at consumers. According to the FBI’s Internet Crime Report, victims lost nearly $30 million due to phishing scams 2017 compared to only $8 million two years earlier.

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Consumers Shoulder Brunt of Fraud Burden

Complex and sophisticated fraud types remain at elevated levels, despite widespread adoption of anti-fraud measures. The recent shift to EMV cards is helping to contain existing card fraud, which showed the steepest decline of any fraud type in 2018. Yet, while existing card fraud losses dropped from $8.1 billion in 2017 to $6.4 billion and the incidence fell from 5.47 percent to 4.40 percent, high-impact fraud types like account takeover and new-account remain alarmingly common, found Javelin Strategy & Research’s 2019 Identity Fraud Study — statistics the firm maintains demonstrate that fraudsters continue to find and compromise new targets.

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Banks Are Falling Behind on Customer Authentication Tech

OneSpan, a global providers of identification authentication software, e-signatures and secure transactions, recently released its The Future of Adaptive Authentication in the Financial Industry report. Based on a broad survey of financial institutions, the report reveals the sector’s challenges in authentication practices and strategies, and highlights the growing tension between improving security, reducing fraud and enhancing the digital customer experience.

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