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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 to become more effectively automated while harder to differentiate from real users. Today, we are witnessing the ultimate twist: a backward evolution to once again use humans as part of automated attacks.   Just as financial security managers become more innovative to protect their businesses, so do fraudsters. The NuData-sponsored Aite report takes a peek at how account takeover (ATO) has evolved into a

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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

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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

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Jack Henry and NuData Banno platform partnership

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 an award-winning passive biometrics and behavioral analytics

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PSD2: new authentication standards don’t have to mean more friction

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

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