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The Entersekt blog.

Industry news, security threats, and technology advances in consumer authentication
Fraud is changing; so should your digital fraud prevention solution

Fraud is changing; so should your digital fraud prevention solution


Exceptionally challenging on so many fronts, 2020’s wholesale upsetting of everyday life impacted financial services and payments pretty much immediately. e-Commerce and digital banking rates skyrocketed, especially among demographics who had previously stuck with cash and in-branch shopping, but then so did fraud, an age-old problem that intensified during the pandemic.

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Snippet: As mobile Internet connectivity grows, African youth are fast embracing the opportunity to connect, converse, and transact on the web. According to the GSMA (Mobile Economy Report 2015), mobile Internet penetration in Sub-Saharan Africa is expected to reach 38 percent by 2020.

As mobile Internet connectivity grows, African youth are fast embracing the opportunity to connect, converse, and transact on the web. According to the GSMA (Mobile Economy Report 2015), mobile Internet penetration in Sub-Saharan Africa is expected to reach 38 percent by 2020.

Snippet: A recent report by BI Intelligence found that, unsurprisingly, card-not-present fraud is rising in the US, now costing merchants 1.47 percent of their annual revenue (up from 0.51 percent in 2013).

A recent report by BI Intelligence found that, unsurprisingly, card-not-present fraud is rising in the US, now costing merchants 1.47 percent of their annual revenue (up from 0.51 percent in 2013).

Snippet: 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).

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).

Snippet: 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.

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.

Snippet: 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.

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.

Snippet: Entersekt’s mission is to support financial institutions in their fight against digital fraud, so we watch the changing regulatory environment very closely.

Entersekt’s mission is to support financial institutions in their fight against digital fraud, so we watch the changing regulatory environment very closely.

Snippet: The move towards two-factor authentication (2FA) is gaining momentum fast, with companies ranging from banks to social media platforms now offering the method as an extra security measure for protecting users’ personal information.

The move towards two-factor authentication (2FA) is gaining momentum fast, with companies ranging from banks to social media platforms now offering the method as an extra security measure for protecting users’ personal information.

Snippet: Sweden has often been quick to use new technologies to power cultural and social development. Spotify, founded in Sweden in 2006, embraced streaming technology as a business model and is considered to be one of the world leaders in music distribution today.

Sweden has often been quick to use new technologies to power cultural and social development. Spotify, founded in Sweden in 2006, embraced streaming technology as a business model and is considered to be one of the world leaders in music distribution today.

Snippet: Two developments in ATM technology have made waves in the first few months of this year. Let’s take a look at what banks and hardware vendors have in store for us.

Two developments in ATM technology have made waves in the first few months of this year. Let’s take a look at what banks and hardware vendors have in store for us.

Snippet: Direct debits are both an efficient and potentially frustrating means of payment for consumers, with high rates of abuse in many parts of the world. In South Africa, where this kind of payment is called a “debit order”, almost a million disputes are lodged every month.

Direct debits are both an efficient and potentially frustrating means of payment for consumers, with high rates of abuse in many parts of the world. In South Africa, where this kind of payment is called a “debit order”, almost a million disputes are lodged every month.

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Entersekt is an innovator of customer-centric fintech solutions. Financial services providers and other enterprises rely on our patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. With us, they can concentrate on their innovation roadmap, while delivering intuitive, low-friction digital experiences to their customers.