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The Future of Cybersecurity for Financial Institutions

We don’t see threat actors as a group deciding to stop attacking the financial services sector. A win is too profitable, and the mere presence of threat signals can serve geopolitical goals. In other words, the financial sector will remain a key focus for cyberattacks and cyber fraud. Some threat actors unleash cyberattacks in pursuit of financial gain through malicious or nefarious means; others...

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Tags: #cybersecurity, banks and credit unions, Cyberattack

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How Hackers Bypass Bank Cybersecurity

Financial services organizations have been increasingly under attack from cyber threat actors, and this trajectory is unlikely to abate. Firms need to ensure they have the right solutions in place to protect and defend themselves, their customers, and the financial systems in which they participate. It is important to note that solutions require people with an advanced understanding of how the...

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Tags: #cybersecurity, security risk, Cyberattack

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Do Universities Prioritize Education in Cyber Security?

Universities may have trouble with their cyber security strategy. Unfortunately, this issue leads to diminishing student experience, increased chance of a third-party cyberattack and costs the university team a lot of money.

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Tags: Education, university, Cyberattack

Supporting Mobile App Biometric Authentication: BIO-key MobileAuth

If you have a smartphone, you bring it everywhere with you: to work, social gatherings, and even carry it around your home. As the smartphone evolved, it began to play bigger role in everyday life, serving as far more than simply a device to make calls and send texts. Today, in tandem with advancement in the cybersecurity world, our phones are also now authentication devices to facilitate the ...

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Tags: mobile authentication, mobile authenticator, identity bound biometrics, MobileAuth

An Interview with our Managing Director in EMEA: Alex Rocha

 

BIO-key has always been a global organization and we are excited to strengthen our global presence and expand our offerings in EMEA and around the world, with the recent acquisition of Swivel Secure Europe and the appointment of Alex Rocha as the Managing Director for BIO-key in EMEA. 

We recently sat down with Alex to discuss his new role and what this means for BIO-key and the global markets...

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Tags: cybersecurity leaders, BIO-key International

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The Best Ransomware Protection Starts With Understanding the Attack

Around 68.5% of businesses worldwide experienced a ransomware attack in 2021, according to Statista. During the COVID-19 pandemic, nearly 85% of data breaches involved defrauding humans. 

These cyberattacks can be carried out in several ways. In many cases, your files will be held hostage until you pay a ransom to the malicious actor who executed the attack. These incidents cause costly...

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Tags: Ransomware, Cyberattack

by BIO-key Team 0 Comments

Why your bank should be worried about human error in cybersecurity

Here's a scenario: your bank has implemented an unbreakable cybersecurity solution. It neutralizes any outside threat and keeps sensitive data like customer information as safe as possible. One day, you come into work to find that's all been compromised. At this point, you're asking yourself, "how could have this possibly happened?" Let's look beyond the security technology, itself.

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Tags: #cybersecurity, #HumanFactor, #phishing, banks and credit unions

by BIO-key Team 0 Comments

How Biometrics are Addressing Growing Cyber Security Issues in Banking

When an intruder breaks into your environment, you're not aware of when they broke in, how they broke in, and what they compromised. How do they break in? Well, Tessian suggests around 90% of data breaches1 are caused by social engineering - meaning, some type of human error and stolen passwords lead to a successful cyber attack.

Today, banks and other financial services are facing growing cyber...

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Tags: #cyberattacks, #cybersecurity, #passwords, Biometrics, identity bound biometrics, banks and credit unions

In Cyberspace, You Need to Trust Who You're Working With

Working in a digital environment has not only opened new opportunities for efficiency but also created several challenges. One of them is the increasing number of frauds that appear when enterprises do not have appropriate solutions for identity verification.

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Tags: #cyberattacks, #cybersecurity, identity management, identity bound biometrics

by BIO-key Team 0 Comments

Why Cyber Insurance is Critical for Banks?

Why do some customers choose one bank over another? Is it because of quality of service? Wide coverage of ATMs? While most do value both of these, neither one is the leading consideration. Customers rely on banks to deploy first-class security measures to safeguard their most valued possessions and financial assets, making trust the most critical component when deciding on who to bank with. When...

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Tags: #cybersecurity, MFA, cyber insurance, banks and credit unions