Herald Scotland: Phishing emails highlight need for new-age bank security

October 1, 2016 — Phishing emails highlight need for new-age bank security

Robert Capps, VP at NuData, comments on highly convincing phishing emails from fraudsters posing as Apple this week.

Experts agree that customers can only protect themselves so far. Brian Spector, chief executive officer at online security firm MIRACL, said: “A range of tactics which once seemed secure – such as identity verification via text message – are becoming easier for hackers to exploit.

“Meanwhile, banks are under pressure to be as user-friendly as possible, which has resulted in security being downgraded in a number of cases.”

Robert Capps from NuData Security added: “The increasing volume of attacks globally can be attributed to more fraudsters willing to commit the crime, more data available on the black market, and more financial institutions and merchants that are vulnerable to attacks.”

Others believe the banks need to turn away from old-fashioned passwords and PIN numbers towards more futuristic methods. Once the preserve of science fiction films, biometric security measures using fingerprints, eye scans and voice recognition could become commonplace in the next year, according to David Webber, managing director of Intelligent Environments.

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