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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 financial services become more digital in nature, it’s important that banks think differently when using data analytics, security tools, and education to improve identity authentication and customer data privacy.

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Mobile Malware Uses Deepfakes, Social Engineering to Bypass Biometric Authentication

SecureWorld News

A sophisticated form of mobile malware dubbed "GoldPickaxe" has been uncovered, which collects facial recognition data to produce deepfake videos, enabling hackers to bypass biometric authentication protections on banking apps. Experts warn that biometric authentication alone is not foolproof.

Malware 73
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Beware of Bank of America data breach if you own an account

Dataconomy

Bank of America data breach has been confirmed by the officials and customers are worried. Financial institutions, with their vast stores of sensitive customer information, are particularly vulnerable targets. What information was exposed? Data breaches have become a significant concern for individuals and businesses.

Banking 77
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Making Banking a More Effortless Experience

CIO Business Intelligence

Along with nearly every other industry, banking is facing greater competitive pressure than ever. As banks continue to face this reality, they’re also tasked with addressing a variety of rapidly changing issues, including those surrounding data protection, adoption of cryptocurrency, and anonymizing data (AI models). .

Banking 131
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Privacy, Authenticity, and Confidentiality

Phil Windley

Summary: Authenticity and privacy are usually traded off against each other. At a recent Utah SSI Meetup , Sam Smith discussed the tradeoff between privacy, authenticity and confidentiality. Authenticity allows parties to a conversation to know to whom they are talking. The following diagram illustrates these tradeoffs.

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Provisional Authenticity and Functional Privacy

Phil Windley

Summary: Provisional authenticity and confidentiality can help us manage the trade offs between privacy and authenticity to support online accountability along with functional privacy. Fortunately, the trade off is informed by a number of factors, making the outcome not nearly as bleak as it might appear at first.

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WhatsApp adds biometric authentication for logging in on desktop

The Verge

Soon, if you’ve got biometric authentication enabled on your phone, you’ll have to unlock the app before you can link your account. The new system will be enabled by default on any iPhone devices running iOS 14 with either Touch ID or Face ID, and any Android devices that have biometric authentication enabled.