The Entersekt Blog

Industry news, security threats, and technology advances in consumer authentication.

The tightrope the EBA is walking
25-07-2019|Simon Rodway

The tightrope the EBA is walking

The European Banking Authority (EBA) plays an extraordinarily complex role. Having to manage and regulate the financial industry means walking a tightrope between directional regulation and restrictive controls.
The problem with having mobile carriers in the digital security chain
13-06-2018|Entersekt Editor

The problem with having mobile carriers in the digital security chain

A year ago this time, a fraudulent attack on German telecom O2-Telefonica shone the security spotlight on Signaling System 7 (SS7) – also called Common Channel Signaling System 7 (CCSS7) – the international telecommunications standard that enables mobile carrier (mobile network) interoperability. Without carrier interoperability, it would be impossible to transmit calls or text messages between mobile phones on different networks, making SS7 a key component of the global communication ecosystem.
Life after SMS OTP: what will be the next big thing in transaction security?
30-05-2018|Clara Chennells

Life after SMS OTP: what will be the next big thing in transaction security?

Remember VHS? The Sony Walkman? What about the dot matrix printer? These are things that were considered state-of-the-art in the 1980s – but are now only a fond memory. No-one in their right mind would, for example, release a new film only on VHS today. And yet incredibly, the SMS OTP, first conceived in the early 1980s, is still what secures online banking channels at most of the world’s financial institutions today.
Mobile authentication: What happens when security and usability stop being mutually exclusive?
18-04-2018|Entersekt Editor

Mobile authentication: What happens when security and usability stop being mutually exclusive?

In digital banking, and more recently also in the mobile payments sphere, security and usability are commonly viewed as incompatible priorities. By implication, for security to be strong enough, it must also impose inconvenience on the user. At Entersekt, however, we prefer to ask: why do banks have to choose?
Clumsy checkouts: the surest way to cart abandonment
01-09-2017|Clara Chennells

Clumsy checkouts: the surest way to cart abandonment

According to behavioral marketing agency SaleCycle, almost 75% of all online shopping carts are abandoned globally. With 70.9% and 74% respectively, Europe and the US actually rank the lowest. These numbers might seem alarmingly high, but they’re not completely surprising if you’ve ever been in the shoes of an online shopper.
No branch required: The rise of digital-only banks
03-11-2016|Jolette Roodt

No branch required: The rise of digital-only banks

Banking is increasingly moving away from brick-and-mortar branches and into the digital domain. Some banks have opted out of having physical branches at all and operate as so-called digital-only banks. Who are these banks, and how are they faring compared to traditional financial institutions? Let’s take a closer look.
Fraud thriving down under
29-09-2016|Jolette Roodt

Fraud thriving down under

Australia and New Zealand seem to have become prime targets for cybercriminals over the past few months. As a target, Australia is under the top 10 in the world for phishing, malware, and fraud. According to Symantec strategist Mark Shaw, 108 cybercrime attacks occur in New Zealand every day; during 2015, the country’s global rank rose in five out of six threat categories: spam, phishing hosts, bots, network attacks, and web attacks. It also had the eighth-highest proportion of global phishing traffic. More than 856,000 New Zealanders are estimated to have been affected by cybercrime last year, at a cost of 257 million New Zealand dollars (186 million US dollars) to the economy.
How to secure digital banking in the world's wealthiest region
23-08-2016|Jolette Roodt

How to secure digital banking in the world's wealthiest region

Global Finance recently published their 2015 rankings for the richest countries in the world. Not surprisingly, five out of the wealthiest twelve are located in the Middle East: Bahrain (12), Saudi Arabia (11), the United Arab Emirates (7), Kuwait (5), and Qatar (1).
Defunct SMS OTP still reigns at Australian banks
16-08-2016|Jolette Roodt

Defunct SMS OTP still reigns at Australian banks

An investigation into online banking security measures in Australia revealed that SMS OTP is still very popular there, despite increasing global awareness of this authentication method’s vulnerabilities.
NIST puts the breaks on a slow-mo train wreck
04-08-2016|Gerhard Oosthuizen

NIST puts the breaks on a slow-mo train wreck

I felt a flicker of recognition reading Dave Birch’s reaction this week to news that the US Department of Commerce’s National Institute of Standards and Technology (NIST) is “deprecating” the use of SMS-based authentication.

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