Financial institutions (FIs) were being hit by sophisticated attacks… and then COVID happened. In March, one U.S. bank alone experienced almost 750K takeover attempts.In 2019, 7,098 data breaches exposed over 15 billion user credentials, according to Risk Based Security, then skyrocketed to 8.4 billion users exposed in Q1 2020 – a 273% increase compared to Q1 2019. The stolen personally identifiable information (PII) is now available on the dark web for schemes such as account takeovers and credential stuffing attacks.Most
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Fraudsters are all too willing to take advantage of our goodwill. Federal stimulus payments issued during the coronavirus are a magnet for identity theft. In May 2020, the unemployment rate was 13.3 percent (U.S. Bureau of Labor Statistics). It’s easy to see why people are eager to receive federal stimulus payments to assist them during the coronavirus outbreak. Unfortunately, scammers are eager to collect your money, too. The Federal Trade Commission (FTC) received over 90,000 complaints from across the U.S. between January and May about COVID-related scams. …
Jack Henry and NuData Security have partnered to enhance the Banno platform, providing financial institutions with behavioral security without causing friction for digital end users.June 2020 finished up with good news for those financial institutions looking to access a behavioral security solution through Jack Henry. The leading provider of financial institution security solutions and NuData Security have formed a partnership to provide all of Jack Henry’s Banno digital platform users access to an award-winning passive biometrics and behavioral analytics technology.A 
As the European PSD2 regulation rolls out, more online payments will follow Strong Customer Authentication (SCA) requirements for better security. This doesn’t have to impact the customer experience.The Payment Services Directive (PSD) is a European directive launched in 2009 to regulate payment service providers throughout the European Economic Area (EEA). It was designed to increase competition across the EEA and harmonize consumer protection and the rights and obligations of payment providers and users.The PSD2 is a revised directive with updated 
They say necessity is the mother of invention. Unfortunately, it’s also a lure for opportunists looking to make a buck. And what better opportunity for online scams than a global pandemic? Sadly, COVID-19 is big business for those into online fraud.The first few months of 2020 have been unlike anything most of us have experienced. COVID-19 drove most people inside to work from home, or get laid off, and spend a lot of time on our devices waiting for the