5 Articles Found
Yet another example of how SMS two factor authentication is not secure can be seen in the recent Signalling System No. 7 (SS7) attacks in January. Malicious hackers redirected money from German customers' banking accounts to their own accounts in a series of attacks. Read more details of the attack here.
In December 2014, the European Banking Authority released guidelines on securing online payments across the European Union (EU). One of those security requirements includes the use of ‘strong authentication,’ which the EBA defines as the use of multifactor authentication.
JPMorgan Chase & Co. reports another data breach of 76 million households and 7 million small and medium-sized businesses, according to PCWorld.com.
> In the case of large-scale retail data breaches, class action lawsuits have been brought against the corporations with claims that they did not implement strong enough security standards to keep consumer data safe.
> IOActive Labs recently found that most iOS mobile banking applications are susceptible to major security vulnerabilities, after testing 40 different iOS banking apps used by 60 different banks in 20 different countries.
