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The benefits of reducing KBA dependency

TRUSTID

While banks know that relying on conventional knowledge-based authentication (KBA) can leave customer accounts vulnerable to social engineering attacks, many continue to take that risk anyway. The problem with getting too comfortable with how you identify callers is it can put your customers at risk.

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The threat of open information sharing

TRUSTID

In other words, these personal nuggets are gold to social engineers. The data is collected by fraudsters to build personal profiles they can sell to other criminals, apply for credit cards, or socially engineer banks to takeover customer accounts.

Banking 50
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Key customer authentication learnings from 2018

TRUSTID

According to the Identity Theft Resource Center, no corner of the business sector is completely immune to fraud. While some industries such as retail and banking may see more attacks, hospitals and other public agencies are doing everything they can to protect their customers’ confidential information from falling into the wrong hands.

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#WFH: 3 Tools to Tackle Call Center Fraud, Even From Home

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But countries and critical businesses such as those in banking, finance, and insurance will have to figure out ways to continue to operate through this crisis, hopefully setting precedents and processes that will prevent business slowdown should another global event occur. . What Happened.