The Reserve Bank of India has decided to allow all banks to use remote video-based "know your customer" authentication for onboarding new clients. But some observers say many Indian banks may prove reluctant to use video KYC because they lack the necessary technology and new customers lack smartphones.
One of biggest challenges of complying with Thailand's Personal Data Protection Act, which will go into effect in May, is managing the consent of customers, says Surachai Chatchalermpun, CISO with Krung Thai Bank, the nation's largest state bank.
"I don't think most organizations are prepared for the personal data protection and privacy bill that has been approved by the cabinet, as most people still confuse privacy and security and think that it is just an add-on to security," says Privacy Expert, Shivangi Nadkarni, CEO, Arrka Consulting.
For two years, an attack group using Ukraine-based infrastructure has been creating hundreds of lookalike domains to target customers of 14 different Canadian banks via phishing attacks, security researchers at Check Point warn.
Starting Jan. 1, State Bank of India will no longer accept magnetic stripe debit card transactions and will accept only EMV chip-based cards in compliance with an RBI mandate, which is designed to help prevent card fraud, including skimming and cloning.
The only constant for financial services institutions is change. Regulations are constantly shifting, along with customer expectations, competition, security threats, geopolitical trends or just, technology.
Financial services organizations need to reimagine existing data analytics strategies to capitalize on the...
Introducing Splunk's case studies of each company so that they can improve their business and gain operational and security insights from the massive machine data generated from AWS and hybrid environments.
There is a need to continuously monitor cloud infrastructure performance, usage, security, and availability....
The notorious Joker's Stash carder marketplace has recently listed for sale 460,000 records, including four "Turkey-Mix" batches that feature never-before-seen payment card data that traces to Turkey's 10 largest banks, says cybersecurity firm Group-IB.
Internet crime has grown so rapidly that law enforcement is outpaced. Here's the story of how a Manhattan doctor lost $200,000 in an internet scam, and why he's struggling to get law enforcement's attention.
Two Russian men have been charged with stealing more than $100 million from banks around the world using the notorious Dridex malware, according to an unsealed U.S. indictment that caps off a decade-long investigation led by American and British law enforcement agencies.
We can see criminals are moving up the financial value chain from attacking lots of targets with smaller rewards to smaller numbers of targets with higher rewards
What are the key mobile security threats to financial organizations, and how are these enterprises marshalling their mobile threat defense? These were the questions posed by ISMG and Wandera to security leaders in San Francisco. Wandera's Michael Covington discusses the response.
Adobe says its e-commerce Magento Marketplace has been breached, exposing usernames, email addresses and more. The software giant has yet to detail how many users were affected or the breach duration. Unfortunately, the stolen data could be used to fuel phishing attacks.
South Korean cryptocurrency exchange Upbit says hackers have stolen $49 million worth of ethereum, in what is the year's seventh major cryptocurrency heist. Much of the $158 million stolen so far this year is likely fueling the North Korean regime's appetite for luxury goods and weapons of mass destruction.
Twitter users no longer have to supply a phone number in order to use two-step verification for authentication. The move will better protect accounts from SIM hijacking attempts and also means users don't have to sacrifice some of their privacy to enable a security feature.
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