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Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

CIO Business Intelligence

Digitalization is a double-edged sword for banks, especially when it comes to security. As interactions and transactions become more interconnected, even the simplest processes like opening a new account or making a balance transfer become riddled with security concerns.

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The AI cat and mouse game has begun

CIO Business Intelligence

The incident involved scammers who, using publicly available videos and audio from YouTube of targeted senior executives, created deepfake representations to deceive a finance employee into executing multiple transactions to bank accounts in Hong Kong, resulting in significant financial damage to the company.

Social 98
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Paul G. Allen Family Foundation giving $1.4M in COVID-19 relief aimed at underserved communities

GeekWire

The foundation, originally founded by the late Microsoft co-founder Paul Allen and his sister Jody Allen, said Monday the new funding focuses on food security and child care, among other needs, and builds on previous aid totaling $12 million from the foundation. “We Pride Foundation ?

Licensing 144
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Data breach exposes 1.6 million Washington state residents who filed unemployment claims in 2020

GeekWire

The Office of the Washington State Auditor is investigating a security incident which has compromised the personal information of more than 1.6 “The Employment Security Department did nothing to cause this, and is not responsible in any way for this incident.” Washington State Auditor Pat McCarthy.

Data 144
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Law firm is strictly watching the Houser LLP data breach

Dataconomy

This inquiry aims to support individuals impacted by the security incident involving personal information trusted to Houser LLP. Esteemed for their collaborations, Houser’s partners have represented major institutions like Citibank, Deutsche Bank, and HSBC, underscoring their prominence in the legal sector.

Data 36
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Analysis: Washington state’s response to data breach affecting 1.4M people is stunningly callous

GeekWire

As someone who has managed data breaches and security response situations for years, I’m genuinely floored by the tone and (lack of) actions in the state’s response so far. It appears that the data originally belonged to the Washington State Employment Security Department (ESD). The response. In fact, the site doesn’t even mention it.

Analysis 137
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Do payday loans affect your credit score?

Dataconomy

Generally, they do not ask you for your social security number to run your credit report for approval. However, they may use your social security number and driver’s license to confirm your identity. Credit card companies and banks often pull a soft inquiry when you apply for a loan.

Banking 41