Today's cryptocurrencies are based on cryptographic standards that eventually could be broken via quantum computing, says Gideon Samid of BitMint, which has developed a virtual currency based instead on the concept of "quantum randomness."
Crypto banks need to develop new ways to track suspicious activities, such as money laundering, says James Wester, research director, worldwide blockchain strategies, at IDC, a technology research and analysis provider.
Preventing deepfake fraud while addressing customer digital onboarding ease-of-use concerns is a balancing act. Sanjay Gupta of Mitek discusses the challenge of juggling security and the user experience in digital banking.
Synthetic identity fraud is a pervasive yet ill-defined crime – hard to define as well as to detect. Greg Woolf of FiVerity discusses a recent initiative by the Federal Reserve in Boston to better define and therefore better manage SIF.
Pharmaceutical companies can leverage data analytics, predictive analytics and artificial intelligence to fight drug diversion fraud, says Charles Washington, senior director, global fraud and asset protection, at Pfizer.
Banks and mobile network operators should collaborate to mitigate the risks of SIM swap fraud, which can lead to account takeovers, says Clare Messenger, global head of fraud protection at the U.K. telecom firm JT Group Ltd.
The "zero trust" model is outdated in today's cloud environment, says Ian Thornton-Trump, CISO at Cyjax, a threat intelligence company, who recommends the use of segmentation and monitoring for anomalous behavior instead.
Four editors at Information Security Media Group - Tom Field, Anna Delaney, Mathew Schwartz and Tony Morbin - review this week’s most important cybersecurity developments, from nation-state threats and supply chain risk, to combating ransomware and adopting a zero trust strategy.
Don’t call it a product, and don’t try to create a standard around it - "zero trust" is a strategy, says John Kindervag, the former Forrester analyst who created it. As he steps into his new role at ON2IT Cybersecurity, his goal is to help make zero trust easy to implement.
Organizations should go beyond one-time passwords to include other layers of authentication as they strive to mitigate the risk of synthetic ID fraud, says Amy Walraven, president of Turnkey Risk Solutions, a Newark, Delaware-based risk management company.
To mitigate the fraud risks posed by synthetic IDs, banks should use consumers' devices to help with authentication, says Karen Boyer, vice president of financial crimes and fraud intelligence at People’s United Bank, based in Connecticut.