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Five cybersecurity facts from NuData’s Fraud Risk Report

 Few would disagree that 2020 has brought its challenges – and I would like to know who those few are. NuData analysts closely monitor our data for online patterns and trends, and found some compelling changes over the first six months of 2020. The COVID-19 pandemic has driven the fastest transition of customers moving to online transactions. As a result, we’ve seen an unprecedented surge in the creativity of credential-stealing scams. Companies adapting their business models to enhance online servicing have

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Evolution of ATO – or how humans are now replacing bots

It is no secret that account takeover has reinvented itself several times in the last decade. From dum automation to human-looking behavior. Today, we are witnessing the ultimate twist: a backward evolution to use humans again as part of automated attacks. Just as financial security managers become more innovative to protect their businesses, so do fraudsters. The NuData-sponsored Aite Group report Trends in Account Takeover Fraud for 2020 and Beyond takes a peek at how account takeover (ATO) has evolved into

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Thinking like a fraudster pays off

Online fraud isn’t just the work of some teens in their parents’ basements. Most hackers are well-trained professionals employed by a specialized industry. Learning how these workers think is the most effective way to get ahead of their plots. As in any industry, specialization is queen. Cyberattacks owe much of their success rates to this specialization where every step to defraud individuals is highly developed. Like any business, the ultimate goal is to make money and leverage existing work to keep

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Five ugly ways scammers take advantage of your COVID-19 stimulus payment

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.

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Credit Unions and Banks Access Behavioral Tools With Jack Henry’s Latest Partnership

Jack Henry and NuData Banno platform partnershipJack 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 award-winning passive biometrics and behavioral analytics technology.A recent

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