The financial services industry has always been a a target for thieves.
Thieves have gotten very clever in exploiting the weaknesses in existing financial transaction systems and internet based payment technologies.
As businesses fix each weakness, it seems that the thieves are always one step ahead. Why is this? There are many of reasons for this but the predominate ones are:
- Data Breaches - Over 500 million records have been stolen to date and new breaches happen every day.
- Static Data - The user information stolen by a data breach is the same data used to identify users. Very easy to impersonate a user.
- Single Factor Authentication - All the systems are based on something you have or something you know, not both.
- Customer Service System - When you have any of the above information it is very easy to impersonate someone in a call center to get even more information.
- Malware, Trojans, Key Loggers - If you keep you computers antivirus software up-to-date it is unlikely you will experience the disastrous effects.
The best way to solve/minimize this problem is to require strong two factor authentication when using the following systems:
- On-line Banking & Brokerage
- Customer Service Centers
- Internet Purchases
- Point-of-Sale Debit Transactions
- ATM Transactions
SurePass prevents user impersonation, phishing, man-in-the-middle attacks, man-in-the-browser attacks, and transaction fraud.
We offer a Visa/MasterCard branded OTP display card for on-line banking, credit/debit transactions, live customer call centers, Interactive Voice Response systems (IVR), and ATM transactions.