From the CISO perspective, identity security is one of the top security challenges, driven by the adversary’s increased use of stolen credentials to target and infiltrate organizations. The data bears this out: according to the CrowdStrike 2023 Global Threat Report, 80% of attacks use compromised identities, while advertisements for access broker services jumped 112% in 2022.
In today’s digital world, identity theft and fraud have become increasingly common occurrences. It is no secret that fraudsters are getting more creative, making it more challenging for businesses and individuals to protect themselves. However, with the advent of technology, there are various ways to mitigate these risks, such as using government databases for ID verification.
When 921 password attacks occur per second, it’s time to treat everyday employees’ credentials like the true operational risk they are. Today’s attackers assign a level of value to employees’ passwords they once reserved for privileged users’ credentials. Why? Workers now have a shocking amount of access to sensitive resources. I’ll elaborate… but through the perspective of a chief information officer kept up at night by risks.
You’ve heard about it. A lot. But there are quite a few nuances when it comes to how Zero Trust security is defined and discussed. Is it a platform or a principle? It’s one of those terms that’s so widely cited that it has the tendency these days to elicit eye rolls within the cybersecurity industry and to be referred to as a buzzword by those sitting at the cool kids’ lunch table.
The first step in Anti-Money Laundering (AML) due diligence is to Know Your Customer (KYC). A financial institution (FI) promptly implements KYC processes to identify and confirm a new customer’s identification. These procedures enable FIs to evaluate the risk profile of a customer based on that person’s propensity for financial crime. KYC is a procedure that cryptocurrency exchanges are required to follow.
Today’s guest is Den Jones, who’s Chief Security Officer (CSO) at Banyan Security, a startup Zero Trust network access solution (and a CyberArk technology partner). Jones spent almost 19 years at Adobe, followed by a stop at Cisco, before landing at Banyan in 2021. As his Twitter bio tells it, he’s a “Large Scale Zero Trust Deliverer,” which is part of his multifaceted CSO charge.
India has recently implemented Anti-Money Laundering (AML) standards on cryptocurrency and crypto exchange platforms, specifically focusing on transaction accountability. This move comes as India aims to regulate and monitor the rapidly growing cryptocurrency and crypto exchange industry, which has been a topic of controversy due to its association with illegal activities such as money laundering and terrorism financing.
In today’s global economy, businesses are required to comply with stringent regulatory frameworks that necessitate identity verification for their clients. The process of verifying customer identities, commonly known as Know Your Customer (KYC), can be a complex and time-consuming task for businesses.
“Black Swan” author Nicholas Nassim Taleb once wrote that “intelligence consists in ignoring things that are irrelevant (avoiding false patterns).” Organizations must take this definition to heart as they incorporate Identity Security intelligence – an essential element of any Zero Trust cybersecurity strategy. Many organizations have dedicated Security Operations Center (SOC) teams responsible for their threat detection, investigation and response efforts.
Onboarding merchants is crucial for ongoing development if you’re a merchant acquirer or payment service provider (PSP). Of course, you want more businesses since they generate more sales. On the other hand, bringing on dubious merchants that are likely to approve fraudulent transactions merely leads to fees and losses that have an effect on your bottom line. The world of payments is expanding quickly and changing all the time as fraudsters become more skilled and fraud assaults rise.
