weekly cypher security blockchain social engineering KYC

Expanding Security Threats Require New Tactics to Combat

The Weekly Cypher is specially curated to keep you up-to-date on the latest in cybersecurity, biometrics, and related news and innovations. Here are a few of the headlines you might have missed this week:

Equifax Breach Was Worse Than We Thought | Consumer Reports

We all know that the Equifax breach was bad. But, a new report states that, in addition to Social Security numbers and the other personal data stolen, hackers also accessed victims’ tax ID numbers, email addresses, and driver’s license data beyond just the number. While this data doesn’t necessarily increase the risk factors involved, it does highlight just how much information was compromised – and how much information Equifax has on consumers. [Read More]

Biometrics a Necessity for KYC in India | BusinessWorld

The Indian government has been working tirelessly to improve the transparency and accountability behind financial transactions, with a focus on Know Your Customer (KYC) regulation. New rules will require biometric authentication to verify the identity of customers performing any business activity, such as requesting a loan, making a high-value transfer, or opening an account. This integration of biometrics into the KYC process highlights clear advantages that new technologies are bringing to financial services around the globe. [Read More]

Microsoft Developing Blockchain-Based Identification Solution | The Next Web

Microsoft is the latest firm to acknowledge the potential in blockchain technologies, announcing a recent collaboration with the Decentralized Identity Foundation to use blockchain to help consumers manage their digital identities. The company stated it believes individuals should be able to “own and control all elements of their identities” online and is currently working on a solution to help manage massive amounts of identity data off-chain to support this notion. These efforts are also geared toward helping organizations meet evolving regulatory demands surrounding identity, such as KYC and GDPR compliance. [Read More]

Social Engineering Could Be Biggest Security Threat in 2018 | InfoSecurity Magazine

While we’ve focused heavily on the threat that malware and ransomware present over the last few years, experts warn that social engineering is likely to be the biggest threat to enterprise security this year. Compromised credentials continue to be the biggest cause of data breaches year-over-year, and as organizations improve the techniques they use for digital access, with multi factor authentication and biometrics, bad actors will need new tactics for accessing data. Social engineering could be the trick they need to continue exploiting security and bypassing new technologies. [Read More]

Healthcare Continues to Fall Behind in Security | SecurityScorecard

Increased focus on security in financial services over the last decade has pushed hackers to seek new avenues for stealing personal information, and the healthcare industry has become the new target. However, the industry has been slow to adopt the tools necessary to halt attacks, ranked 15th out of 17 US industries for cybersecurity strength. This is due to a slow patching of system vulnerabilities, weak endpoint and network security, and social engineering. [Read More]

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