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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 74
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New York Enhances Cybersecurity Regulations of Financial Services

SecureWorld News

On November 1, 2023, the New York Department of Financial Services (NYDFS) took a significant step toward strengthening cybersecurity defenses across the financial sector by finalizing amendments to Part 500 of its cybersecurity regulations. 15, at the Marriott Marquis Times Square. 15, at the Marriott Marquis Times Square.

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FCC Enacts Rules Against SIM Swapping to Protect Mobile Phone Users

SecureWorld News

These fraudulent activities not only compromise wireless account access but also pose significant risks to financial accounts, social media profiles, and other online services utilizing phone numbers for multi-factor authentication (MFA).

Mobile 87
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Architecting Identity: Five Essential Elements of a Modern Customer Authentication Service

CIO Business Intelligence

They may have a built-in user store supporting password authentication, for example. In response to cloud-based customer experiences, more focus has shifted to authentication. Modern authentication systems tend to be built around the FIDO standards of Web Authentication (WebAuthn) and Client-to-Authenticator Protocol (CTAP).

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Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

CIO Business Intelligence

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. Have you thought about what can be done with this device to enhance identity authentication?

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T-Mobile API Hack Affects Data of 37 Million Customers

SecureWorld News

T-Mobile announced on Thursday that a hacker accessed varying amounts of personal data from 37 million customers from late November 2022 until the malicious activity was detected on January 5th of this year. According to the mobile phone giant, the attacker accessed account information from postpaid and prepaid customers via one of its APIs.

Mobile 80
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Banking and financial software development: Features and requirements

Dataconomy

The development of banking and financial software is essential to the banking sector’s digital transformation. Banks and other financial organizations may simplify operations, boost security, and provide clients with better services thanks to these software solutions.