Adam Cason

#FDC3 continues to be in the spotlight, with growing adoption across sell side and buy side platforms and application #interoperability tech gaining traction outside of finance. But where did FDC3 come from and what has been the formula for its success? In this blog post, Connectifi CEO, co-founder, and creator of FDC3 Nicholas Kolba provides answers. https://lnkd.in/eNEfYKyg

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👨‍💻 The PenPie Hack: Explore how a $27M reentrancy exploit rocked DeFi in 2024 ➡ https://lnkd.in/eNePXUU4 💡 Learn how thorough auditing practices could have prevented the attack and protect your protocol from similar threats. #DeFi #cybersecurity #blockchain

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💳 Rising Threat of NFC-Based Fraud: Ghost Tap Cybercriminals are exploiting NFC relay techniques to execute large-scale cash-outs using stolen card data linked to mobile payment systems like Apple Pay and Google Pay. Dubbed "Ghost Tap," this tactic involves relaying NFC traffic between a stolen card and a mule’s device at point-of-sale (POS) terminals. Attackers stay anonymous while enabling simultaneous fraudulent purchases in multiple locations. #NFCFraud #FinancialSecurity 📱 How Ghost Tap Works Attackers link stolen cards to mobile devices using phishing or malware to intercept OTPs. Using tools like NFCGate, they relay payment traffic, allowing mules to purchase goods far from the attacker’s location. This scalable approach uses minimal resources, making it accessible to a wide range of threat actors. Transactions appear legitimate, often bypassing anti-fraud mechanisms. #Cybercrime #FraudDetection 🚨 Challenges for Financial Institutions Ghost Tap poses detection challenges as transactions often seem normal—low-value payments from a single device. The absence of the cardholder at the POS and device location inconsistencies make detection difficult. Without enhanced detection on NFC readers or monitoring device-to-payment inconsistencies, this fraud tactic may continue to rise. #AntiFraud #EmergingThreats 🔒 Strengthening Fraud Defenses Financial institutions should monitor for suspicious device linkages, impossible travel times between transactions, and unusual behavior on customer devices. Enhanced security measures on NFC readers and collaboration across industries are essential to counter this evolving threat. 🔗 Explore the full report for insights and countermeasures: https://lnkd.in/gETFQaDk 💬 What strategies can better protect financial systems from evolving fraud tactics? Share your ideas below! 👇

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🚀 Addressing $343 Billion in Fraud Losses! 🌟 Fingerprint and Oscilar Inc have teamed up with a strategic focus on mitigating projected fraud losses that could amount to $343 billion. 🔗 Read the full insights here: https://lnkd.in/gRWFiuXN This partnership harnesses Fingerprint’s cutting-edge device intelligence with Oscilar’s innovative no-code AI risk platform, aiming to enhance security across the financial technology landscape. It's not just about preventing fraud; it's about preserving trust in digital financial services. Special mention to Dan Pinto, CEO of Fingerprint, and Sachin Kulkarni, CTO of Oscilar, for their visionary leadership in this venture. A big applause for the teams at Fingerprint and Oscilar for setting a new benchmark in fraud prevention. Stay tuned to our page for more updates on how strategic partnerships are fortifying the fintech ecosystem! #Fintech #FraudPrevention #Fingerprint #Oscilar #FinancialSecurity #Innovation

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A little history on PCI DSS Compliance 💳 Though PCI DSS Compliance across American merchants is higher now, stated at 43% in November, 2023, it hasn't always been this way, and current statistics are far from satisfactory. 📉 Organizational PCI DSS compliance began on a downward trend in 2016, down 8.8 percentage points over 2019. The 2021 Verizon Payment Security Report found that only 27.9 percent of organizations achieved full compliance with PCI DSS during their interim validation in 2019. 📈 Though in 2020, organizations focused their attention on improving security management and governance and by 2022 were able to achieve a 43.4% improvement of maintaining full compliance. However, as of November, 2023 still, only 43% of organizations are considered compliant under the PCI DSS standard. This means that millions of businesses are incurring monthly PCI non-compliance fees and are at risk of major penalties (as much as $5,000 – $100,000 in monthly penalties) from credit card companies. It's likely the primary reason merchants incur PCI non-compliance penalties is a broad lack of understanding of how PCI compliance works. Looking ahead to PCI DSS 4.0 - how is your organization faring? Don't let a common lack of understanding of PCI Compliance be the reason your organization is at risk for avoidable penalties, we can help! Learn more from a PCI DSS expert here: 🔅 https://hubs.la/Q02JCyZ80 #PCIDSS4.0 #PCI #Compliance #PaymentSecurity

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A blog post I wrote for Vercara about the increase in APIS due to open banking and new rules from the Consumer Financial Protection Bureau around section 1033 of the Dodd-Frank Act. As Spiderman said once: "With great functionality comes great attack surface." #openbanking #apisecurity #apiprotection #applicationsecurity https://lnkd.in/eB32W2B6

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Though voice fraud is a rising concern, banks continue to push for voice verification as a part of their layered verification systems. James Lee at the Identity Theft resource center near San Diego says, “For somebody to appropriate your voice, it’s a little more difficult, and identity criminals don’t like to do things that are difficult. They like to do things that are easy, so the risk to any one individual is relatively low.” While some believe it’s a necessary and safer measure when used in conjunction with other verification methods, Justin Kloczko, a tech and privacy advocate for Consumer Watchdog, claims, “It’s not really safe, and you really shouldn’t feel crazy” [when questioning whether it’s a safer method]. What do you think about voice ID for bank login? https://lnkd.in/gGeeNuZs #digitalbanking #cyberrisk #cybersecurity #banks #financialservices

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Why wait? azakaw's biometric access verifies identities in seconds—blink, and it is done. Elevate your compliance standards today. #azakaw #jawanpartners #verification #biometrics #identity #security #compliance #risk #kyc #kyb #onboarding #fintech #regtech

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🛡️ PCI Compliance 101: Handling Credit Card Info on Paper 📝 Storing credit card information on paper? It’s not as uncommon as you might think, and it comes with its own set of PCI requirements. 🌟 Highlights from our latest post: ♦️ Detailed breakdown of PCI DSS rules for paper storage. ♦️ Practical advice for maintaining compliance. ♦️ Insights from industry experts. 🔍 Engage with us! Share your thoughts or ask your burning questions below. https://hubs.ly/Q02V9kZp0 #DataProtection #PCIStandards #FinancialSecurity #BasisTheory #PaymentProcessing #ExpertAdvice

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Credit unions face unique cybersecurity challenges that require a proactive and robust approach to protect sensitive member data and maintain trust. Traditional security measures like VPNs and RDPs are no longer sufficient to combat the evolving threat landscape. At NVIS AI, we understand the critical importance of secure remote access for financial institutions. Our Zero Trust Network Access (#ZTNA) solution provides a comprehensive and scalable approach to cybersecurity, offering: 🔐 Zero Trust Framework for continuous validation of users and devices. 🎯 Granular access control to reduce attack surfaces. 🚀 Seamless integration with existing IT infrastructures. ⚡ Enhanced user experience with minimal latency and bandwidth issues. By implementing NVIS AI’s advanced security solutions, credit unions can enhance their cybersecurity posture, reduce the risk of data breaches, and ensure secure remote access for their employees. Learn more about how NVIS AI can help your credit union stay secure in an ever-evolving digital landscape. https://lnkd.in/gbaXq7n8

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In the June 18, 2024, Findynet Cooperative #OpenIDFederation stakeholders update call, Northern Block's CEO, Mathieu Glaude, discusses why focusing on #TrustRegistries from the perspective of making claims is more beneficial than viewing them as systems to support digital credential exchanges. This approach can create immediate opportunities for digital ecosystems, elevate current levels of trust through trust registry claims, and incentivize entities to use digital credentials and wallets simultaneously. https://lnkd.in/gXkH3hur

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First Bank Texas prioritizes your account security against rising cyber threats. Enhance protection with two-factor authentication using a one-time passcode, authenticator app, or security key. Safeguard your personal and financial information by enabling this feature in your account settings. Learn more about cyber-security best practices here: https://bit.ly/3XxuEoP

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Even though the new incident reporting rules create pressure, they serve as a forcing function for building a strong security foundation. The SEC's new incident reporting requirements have sparked many questions and concerns. While some argue that these rules are duplicative of CIRCIA and create additional work for resource-constrained cybersecurity teams, others worry that a four-day disclosure window is too short and could attract bad actors to exploit vulnerabilities. Regardless of opinions, the challenges are undeniable. Distinguishing between victims and perpetrators, determining what "may be material to investors," and establishing communication with executives and the board are tasks that require significant resources. For smaller companies, these requirements could inadvertently hinder innovation and growth. 🌐 Steps Small Organizations Can Take: 1. Get Smart on Top Security Frameworks: EU NIS2 NIST CSF NIST SP 800-53 NIST SP 800-171 ISO/IEC 27000 CIS Critical Security Controls 2. Build a Security Team: Assemble a small SOC team with key roles. Align closely with your engineering team. Automate security processes where possible. Consider open-source tools and vendor-managed solutions. Cover risk and vulnerability management basics. While there is no silver bullet, these steps provide a starting point for smaller companies to navigate the new incident reporting rules. The requirements create pressure, but they also push for the inevitable: building a strong security foundation. #CyberSecurity #SmallBusiness #SEC #Compliance #DataProtection #IncidentReporting #InfoSec #TechNews #BusinessGrowth #ipconsullting

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𝐑𝐨𝐛𝐨𝐜𝐚𝐥𝐥𝐬 are not just annoying—they're a serious global threat impacting millions. From phishing scams to identity theft, these automated calls exploit advanced technology to deceive and harm. The recent crackdown on the infamous 𝐑𝐨𝐲𝐚𝐥 𝐓𝐢𝐠𝐞𝐫 𝐠𝐚𝐧𝐠 by the US FCC highlights the severity of this menace. Learn how these scams operate and the steps you can take to protect yourself. 🔒 Stay vigilant. Protect your communication. 𝐌𝐢𝐭𝐢𝐠𝐚𝐭𝐚 is here to help. Discover how our 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐂𝐲𝐛𝐞𝐫 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 can safeguard your personal information and provide peace of mind. 👉 Learn More About 𝐌𝐢𝐭𝐢𝐠𝐚𝐭𝐚 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐂𝐲𝐛𝐞𝐫 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞: https://shorturl.at/HaAmW #CyberSecurity #StaySafe #Mitigata #Robocalls #ProtectYourself #CyberInsurance

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Hackers are cashing in on retail like it’s Cyber Monday. It’s time to strike back. 🎯🛍️ Trustwave #SpiderLabs’ new research uncovers the latest threats – phishing, fraud, supply chain attacks, and ransomware - that are hitting the retail and e-commerce sectors hard. Defend your business with our brand new insights from our threat research experts: https://hubs.ly/Q02W832J0

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Teleport's Access Platform not only speeds up #FedRAMP compliance but also ensures secure, compliant access management without disrupting business operations. Current customers cite benefits like: 👉 Access Control: All admin connections to internal hosts are secured and managed through robust access control mechanisms. 👉 FIPS-Validated Encryption: Every admin connection uses FIPS-validated encryption, ensuring the highest level of security. 👉 Elimination of Shared Credentials: There are no shared passwords or break-glass credentials, reducing the risk of unauthorized access. 👉 Session Controls: Teleport implements complex requirements such as concurrent session control, session timeouts, login banners, and automatic session termination. 👉 Comprehensive Logging: Teleport logs all personnel access and includes session recording for SSH, providing an easy-to-produce and complete audit trail. Learn more: https://lnkd.in/gYpeX7Fq

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NYDFS Cybersecurity Regulation: Automated Blocking of Commonly Used Passwords: NYDFS introduced its 2nd amended Cybersecurity Regulation. One requirement is the automated blocking of commonly used passwords. https://hubs.ly/Q02zF-9m0 #NYDFS #cybersecurity #passwords #regulations #compliance

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