USD 29 Million Stolen as Nikkei Falls Victim to Fraud

USD 29 Million Stolen as Nikkei Falls Victim to Fraud

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BLOG USD 29 Million Stolen as Nikkei Falls Victim to Fraud Angelo Gajo | November 8, 2019 | 4 minutes On October 30, Japan’s largest financial media organization Nikkei released a press statement announcing that they were the recent victims of fraud. The incident happened in late September 2019 where an employee of their US subsidiary at Nikkei America, Inc. was fooled into transferring approximately $29 million of Nikkei America’s funds. The fraudster succeeded through a business email compromise (BEC) scam where he sent a phishing email posing as a Nikkei America management executive. According to David Barnhardt, Chief Experience at GIACT, the fraudster took it one step further by physically emulating the sound of his voice over the phone to match the management executive victim.  This incident highlights the fact that strong security…
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Preventing Cyberattacks and Breach of Customers Trust

Preventing Cyberattacks and Breach of Customers Trust

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BLOG Preventing Cyberattacks and Breach of Customers Trust with Voice Biometrics Angelo Gajo | October 30, 2019 | 5 minutes Organisations that breach the trust of its customers by losing control of their data in cyberattacks are now looking to find better ways to protect their data and their reputations. In a previous blog, we mentioned the Essential Eight cyberattack mitigation strategies and how multifactor authentication is a critical part of protecting organisations from the ever-increasing threat of cyberattacks. While voice biometrics is an excellent technology for an improved multifactor authentication, voice biometrics also addresses another part of the essential eights which is to “restrict administrative privileges”. The Essential Eights as listed by the Australian Cyber Security CentreAdministrative privileges are the ability to access and make changes in a system. If this privilege is…
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How ArmorVox Achieves Real-Time Fraud Detection

How ArmorVox Achieves Real-Time Fraud Detection

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BLOG How ArmorVox Achieves Real-Time Fraud Detection Angelo Gajo | October 16, 2019 | 5 minutes Today, all organisations interact with their customers through numerous channels. Most interactions require customers to verify their identity before being provided with the service or transaction that they want. Many customer verification methods add friction to the customer journey and does not effectively prevent fraudsters from gaining access. Passwords, PINs, answers to secret questions and one-time passcodes that are sent via email or SMS do not always stop fraudsters and they often make a more difficult customer experience. Organisations can reduce this friction in all channels for legitimate customers and effectively defeat fraudsters by using Auraya’s next-generation ArmorVox engine.ArmorVox provides organisations with the ability to identify fraudsters in real-time and prevent organisations from compromising…
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Ensuring Delightful Experience for Voice Enrolment and Verification

Ensuring Delightful Experience for Voice Enrolment and Verification

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BLOG Ensuring Delightful Experience for Voice Enrolment and Verification Angelo Gajo | October 14, 2019 | 5 minutes Successful deployment of new technologies requires excellent initial customer experience to achieve maximum benefit. Therefore, for successful voice biometric implementation, the initial enrolment and verification processes must be seamless and delightful for users. To promote this frictionless experience, this blog outlines the best practice approaches for the most common voice biometric solutions. Outlining the Benefits To introduce voice biometrics, organisations should consider informing users about the benefits of adopting the technology. Consumers are constantly searching for ways to make their life easier and to improve their security and privacy. When using new systems or solutions, if consumers understand the significant potential benefits, then they become more willing to opt-in to the benefits…
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Healthcare Industry Needs to Improve Security

Healthcare Industry Needs to Improve Security

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BLOG It's Time for Hospitals and Health Services to Upgrade Their Security Methods Angelo Gajo | October 3, 2019 | 4 minutes As the latest victims of a ransomware attack in Australia, several regional Victorian hospitals and health services were forced to shut down their IT systems on Monday, September 30th, 2019 due to a security breach.Earlier this year the Auditor-General published a report which exposed widespread security vulnerabilities in Victoria’s public health system. This alarming issue left patient data at a high risk of data breaches. Andrew Greaves, the Auditor-General, stated that there were “key weaknesses in health services” physical security, and in their logical security, which covers password management and other user access controls”.As a result of these cyber security issues, several regional Victorian hospitals and health services…
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