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MY TAKE: Businesses gravitate to ‘passwordless’ authentication — widespread consumer use up next

The Last Watchdog

Perhaps not coincidently, it comes at a time when enterprises have begun adopting passwordless authentication systems in mission-critical parts of their internal operations. Fortifications, such as multi-factor authentication (MFA) and password managers, proved to be mere speed bumps. One bank in the U.S. Adoption scenarios.

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The Risk of Weak Online Banking Passwords

Krebs on Security

If you bank online and choose weak or re-used passwords, there’s a decent chance your account could be pilfered by cyberthieves — even if your bank offers multi-factor authentication as part of its login process. Image: Hold Security.

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Spanish police dismantled SIM swapping gang who stole money from victims’ bank accounts

Security Affairs

Spanish National Police has arrested eight alleged members of a crime organization who were able to steal money from the bank accounts of the victims through SIM swapping attacks. Once hijacked a SIM, the attackers can steal money, cryptocurrencies and personal information, including contacts synced with online accounts.

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AI voice cracks telephone banking voice recognition

Malwarebytes

Voice ID is slowly rolling out across various banks worldwide as a way to perform user authentication over the phone. At first the banking website refused to verify Cox's synthesized voice as genuine. But with a few tweaks, it soon allowed Cox into his account. However, questions remain about just how secure it is.

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Anatsa Android banking Trojan expands to Slovakia, Slovenia, and Czechia

Security Affairs

The Android banking trojan Anatsa resurged expanding its operation to new countries, including Slovakia, Slovenia, and Czechia. In November 2023, researchers from ThreatFabric observed a resurgence of the Anatsa banking Trojan, aka TeaBot and Toddler. ” concludes the report. ” concludes the report. .

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MY TAKE: Account hijackers follow small banks, credit unions over to mobile banking apps

The Last Watchdog

Outside of giants JP Morgan, Bank of America, Citigroup, Wells Fargo and U.S. firms are comprised of community banks and regional credit unions. These smaller institutions, much like the giants, are hustling to expand mobile banking services. Related: OneSpan’s rebranding launch. Key takeaways: Shifting risks.

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Banks, Arbitrary Password Restrictions and Why They Don't Matter

Troy Hunt

Allow me to be controversial for a moment: arbitrary password restrictions on banks such as short max lengths and disallowed characters don't matter. Also, allow me to argue with myself for a moment: banks shouldn't have these restrictions in place anyway. for my *online banking*. Any thoughts? 6 characters.

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