The Entersekt Blog

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

Financial institutions should take security fight to cyber thieves, not the courtroom
13-10-2014|Entersekt Editor

Financial institutions should take security fight to cyber thieves, not the courtroom

Who is legally liable when cybercriminals break into a network and steal hundreds of thousands of dollars from a company? If you follow recent court cases, businesses and banks point the finger at one another.
Ask your customers to authenticate.  It’s more important than you think
08-10-2014|Entersekt Editor

Ask your customers to authenticate. It’s more important than you think

A pressing security concern for banks today is the threat of account takeover, which results in significant losses for both financial institutions and their customers, particularly small businesses. In fact, in a 2012 report, analyst firm Javelin estimated that account takeover fraud cost financial institutions worldwide $4.9 billion in losses.
Flawed security is the elephant in the app store
24-09-2014|Gerhard Oosthuizen

Flawed security is the elephant in the app store

The world has embraced mobile in a big way. Mobile applications are suddenly an indispensable feature of daily life, serving as sources of information, productivity tools or entertaining ways to pass the time. There are now more than 1.3 million Android apps on the market and almost exactly as many available to users of Apple’s mobile devices. In June 2014 alone, 75 billion apps were downloaded from the Apple App Store!
CyberVor is a call to action whichever way you look at it
02-09-2014|Entersekt Editor

CyberVor is a call to action whichever way you look at it

As infosec hotshots flew into Las Vegas for Black Hat USA, a certain Alex Holden of Hold Security dropped a bombshell from Milwaukee. Through the New York Times, he made it known that a Russian gang that he called CyberVor had succeeded in “the biggest hack ever:” the theft from about 420,000 web addresses of “1.2 billion username and password combinations” and “more than 500 million email addresses.
24-08-2014|Altus van Tonder

"Simply safe" at Swisscard

For those who don’t know the company, allow me to introduce Swisscard AECS, a fantastic group of people that my team has worked with closely over the last year. Based in Horgen, just outside Zurich, Swisscard is the only company in Switzerland to offer American Express, MasterCard, and Visa credit cards from a single source, doing so on behalf of Credit Suisse AG.
Celebrating Capitec Bank's mobile banking
20-08-2014|Entersekt Editor

Celebrating Capitec Bank's mobile banking

In June, news sites in South Africa heralded the release of Capitec Bank’s all-new remote banking app. The app is built on Entersekt’s Transakt SDK, and our staff needed no further reason to celebrate the launch with balloons and some of South Africa’s best sparkling wine.
Complimentary webinar recording: Securing Seven Billion Mobiles
13-08-2014|Entersekt Editor

Complimentary webinar recording: Securing Seven Billion Mobiles

With seven billion mobile phone subscribers globally, it’s imperative the financial services industry move quickly to roll out retail and corporate banking services on the one device their customers always have with them: their mobile phone. The channel has enormous potential, but many banks have hesitated to offer a complete range of financial services through it because of concerns over security.
Go beyond the FFIEC guidelines for authentication - they simply are not enough
06-08-2014|Entersekt Editor

Go beyond the FFIEC guidelines for authentication - they simply are not enough

While online banking fraud is not new, the losses that stem from it continue to increase year after year, as if today’s institutions are either unaware or unconcerned with the problem.
SMS - A welcome invitation for fraudsters
31-07-2014|Entersekt Editor

SMS - A welcome invitation for fraudsters

It is no secret that one-time passwords (OTPs) have outlived their expiration date. These one-off strings of digits have proven to be neither secure nor convenient, especially when generated and dispatched to the customer’s mobile phone via the SMS channel, which is one of the most popular OTP delivery methods used by banks around the world.
Operation Emmental defeating SMS OTP
27-07-2014|Christiaan Brand

Operation Emmental defeating SMS OTP

Another week brings us news of yet another breach of online systems supposedly protected by one-time passwords, this time at 34 banks in Switzerland, Sweden, Austria, and Japan. At this point, I’m strongly tempted to edit one-time passwords out of the Wikipedia article on multi-factor authentication. They’re so hopeless that they threaten to give our whole industry a bad name.

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Entersekt is an international software development company based just outside of Cape Town, South Africa.

We are leaders in authentication, app security, and payments enablement technology, offering a highly scalable solution set with a track record of success across multiple continents.