Security

Al Rajhi Malaysia Selects Feedzai to Bolster Security for Its Digital Bank

Al Rajhi Bank Malaysia (ARBM) has partnered with risk management platform Feedzai to integrate the latter’s RiskOps solution onto its platform. RiskOps by Feedzai is a fully integrated cloud offering which covers device authentication, malware defense, behavioral biometrics along with

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Digital ID Verification, Remote Document Signing to Become the Norm in Finance Sector

The pandemic has accelerated the growth of non-face-to-face interactions, forcing banks, merchants and others to swiftly deploy digital tools to accurately verify the identity of the person on the other end of a digital transaction. A 2021 study by advisory

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BNM Doubles Down on Efforts to Combat Evolving Financial Fraudsters

Bank Negara Malaysia (BNM) steps up collaboration with banks and law enforcement agencies to combat the rapidly evolving threat financial fraudsters. The central bank said that it requires all licensed banks to adopt high standards of security, particularly for internet

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Using E-Signatures to Ensure Business Continuity in an Increasingly Digital World

The COVID-19 pandemic has accelerated the trend towards digitisation. Suddenly, government agencies, organisations, and businesses of every industry have been thrust into a world of remote processes, and the need for technology that enables business continuity has never been higher. Businesses

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Why We Should Eliminate Passwords as Passwordless Authentication Is the Future

The computer password has been around for more than 6 decades. The first password can be traced back to 1961 in Massachusetts when a computer at MIT was protected with a password for secure login. Incidentally, MIT’s time-sharing system was

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Top Three Digital Fraud Prevention Trends for 2022

2021 was another memorable year. Organisations that built remote processes in response to the pandemic have spent the past year optimising and strengthening their systems to ensure a positive and secure customer experience. However, with identity theft, payment fraud, phishing,

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SecIron Ties up With CyberSecurity Malaysia to Boost Mobile App Security

SecIron announced a strategic alliance with Cybersecurity Malaysia (CSM) to boost awareness about the importance of securing mobile applications and IoT systems among businesses in Malaysia. The pandemic has especially resulted in most businesses going online which puts end users’

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How Can Financial Institutions Put a Stop to Account Takeover Attacks

Financial Institutions (FI’s) can detect and prevent account takeover attacks using continuous monitoring and adaptive multi-factor authentication. Account takeover (ATO) fraud is one of the top causes of fraud losses for banks and financial institutions. An account takeover occurs when

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CTOS IDGuard Thwarts Credit Fraud to the Tune of RM79 Million in One Year

CTOS IDGuard an application fraud bureau, said that it has prevented confirmed fraudulent credit applications to the tune of RM28 million in the first 12 months of operation. Additionally, CTOS IDGuard had also flagged a further RM51 million in suspicious

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BNM Restores CTOS’ Access to CCRIS After Nearly 2 Months Suspension

CTOS’ access to the Central Credit Reference System (CCRIS) has been restored by Bank Negara Malaysia (BNM) effective Wednesday onwards. On 30 September 2021, BNM issued a temporary suspension of CCRIS’ access to all Credit Reporting Agencies as a precaution

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