Tech Talk: FedNow, account takeover, data and AI, and more!

• Protect your FI from account takeover fraud
• Banks must use data and AI to stay relevant
• Preventing fraud in digital banks
• Realtime fraud considerations to maximize the benefits
• Financial firms should develop ecosystems
• Consumers want more than biometric authentication
• FedNow: An accelerant for fintech
• Finsync: Free access to its financial platform
• Can AI really change the payments industry?
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Protect your FI from account takeover fraud
No matter how much emphasis is placed on creating safe passwords, avoiding phishing attempts, and safeguarding sensitive personal data, the risk of account takeover (ATO) fraud remains ever-present. Learn how you might prevent it. Finextra has the details.

Banks must use data and AI to stay relevant
There are advanced technologies that can embolden banking teams to become more advisory and consultative in their day-to-day efforts with clients. He pointed to artificial intelligence (AI) as a way to improve the conversations that occur as FIs interact with customers. PYMNTS.com has the details.

Preventing fraud in digital banks
Fraud prevention has to do with implementation of measures and strategies to proactively react and stop fraudulent activities. This can be done by building a strong anti-fraud system. Data is the cornerstone. Finextra has the details.

Realtime fraud considerations to maximize the benefits
The anticipation surrounding instant and real-time payments in the U.S. has captured the attention of financial experts in more ways than one. With the Federal Reserve's launch of their FedNow Service this month, banks and financial institutions are both excited to reap the benefits and wary of the potential risks. Finextra has the details.

Financial firms should develop ecosystems
Financial services firms are coming in for some sharp criticism from analysts. In a report HFS released in collaboration with Infosys, opened with: “What is the current market reality? Aging legacy systems, a dearth of talent, and a general unwillingness to change make it harder than it should be for banking and financial services firms to get the desired impact from emerging tech. Forbes has the details.

Consumers want more than biometric authentication
When it comes to authentication, consumers increasingly trust and prefer the biometrics afforded by smartphones to protect their identities. But although they love this seamlessness, consumers also want to see security measures at work. PYMNTS.com has the details.

FedNow: An accelerant for fintech
FedNow went live last Thursday as a new service for banks and credit unions to instantly transfer money at any time. The interbank payment system aims to provide benefits for American consumers and businesses with rapid availability to funds and cashflow management. Finextra has the details.

Finsync: Free access to its financial platform
Financial network platform Finsync said bankers and businesses can use its network for free. The network lets companies connect bank and credit card accounts to see all transactions in a single place, manage cash flow, connect with customers and vendors, and connect with their bankers. PYMNTS.com has the details.

Can AI really change the payments industry?
The world is awash with news and articles on artificial intelligence (AI), and the payment industry is no exception. Recently we have learned that Mastercard has rolled out an AI tool to spot real-time payment scams, U.S Bank is using AI in business travel management, and conferences are filled with talks on an AI future. Finextra has the details.

Spams, Scams, and Breaches

• TechCrunch: Russia-backed hackers used Microsoft Teams to breach government agencies
• SecurityWeek: Ransomware Attacks on Industrial Organizations Doubled in Past Year: Report
• Dark Reading: Iranian Company Plays Host to Reams of Ransomware, APT Groups
• Naked Security: SEC demands four-day disclosure limit for cybersecurity breaches
• Dark Reading: China's Volt Typhoon APT Burrows Deeper Into US Critical Infrastructure
• PYMNTS.com: Bankrupt Crypto Lender Voyager Digital Reports Possible Breach
• Dark Reading: Lessons Not Learned From Software Supply Chain Attacks
• TechCrunch: Mondee security lapse exposed flight itineraries and unencrypted credit card numbers
• Dark Reading: Hot Topic Apparel Brand Faces Credential-Stuffing Attack

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• Dark Reading: Piles of Unpatched IoT, OT Devices Attract ICS Cyberattacks
• CISA: Mozilla Releases Security Updates for Multiple Products
• SecurityWeek: Google Awards Over $60,000 for V8 Vulnerabilities Patched With Chrome 115 Update
• Help Net Security: Ivanti discloses another vulnerability in MobileIron Core (CVE-2023-35082)
• Dark Reading: Guardio Uncovers Zero-Day Vulnerability in Salesforce's Email Services
• Help Net Security: CyFox disclose Stremio vulnerability, developers don't agree on findings
• Banking Dive: How banks could fit into Elon Musk’s plans for an ‘everything app’
• Help Net Security: Ivanti fixes second zero-day exploited by attackers (CVE-2023-35081)
• SecurityWeek: Multiple Security Issues Identified in Peloton Fitness Equipment
• Dark Reading: CISA: 'Submarine' Backdoor Torpedoes Barracuda Email Security
• SecurityWeek: Zimbra Patches Exploited Zero-Day Vulnerability
• Help Net Security: Android n-day bugs pose zero-day threat
• SecurityWeek: Nearly All Modern CPUs Leak Data to New Collide+Power Side-Channel Attack
• TechCrunch: US, Norway say hackers have been exploiting Ivanti zero-day since April
• SecurityWeek: Firefox 116 Patches High-Severity Vulnerabilities
• Help Net Security: A step-by-step guide for patching software vulnerabilities
• SecurityWeek: Axis Door Controller Vulnerability Exposes Facilities to Physical, Cyber Threats

See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

And on the lighter side...

Boston Dynamics' amazing robots Atlas and Handle.