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12-Jul-2020 22:40

IT security experts commented below on the new “2017 Faces of Fraud Survey” of US banks and financial institutions issued today by ISMG Research & VASCO Data Security.

Among the study’s findings: a majority of respondents believe today’s fraud schemes are too sophisticated and evolve too quickly to keep pace; just 38 percent of those responding have high confidence in their institution’s ability to detect and prevent fraud; and only 13 percent of respondents believe their organization is identifying fraud in real time.

Banks can insure themselves against financial losses from fraud, but consumer can never recoup the damage of having their identity stolen.” Christian Lees, Chief Information Security Officer at “We certainly see that compromised data, credentials and PII are often used and re-used by threat actors for a variety of activities.

Direct ATO, brute force or other, can often be traced to exposed credential dumps.

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I’m also encouraged by continuous behavioral biometric authentication, along with other continuous identity assessment measures, that raise confidence in a user’s legitimacy.The smart and best way to start trading, is with a legitimate regulated broker that offers you a free demo account.