To help fight cyber crime, fraud, and money laundering, a network of banks are arming themselves with a new agency called “Financial Crime Alerts Service”
Nigeria known for banking fraud is currently on the hunt for a $39 million cyber fraud. Not really shocking but it was done by an insider which shows just how important inside security needs to be from employers. Some banks like Barclays are taking precautions with some sort of dual authentication seen in James Bond movie of the 80’s with biometric finger readers. Lets make the consumers life miserable? That’s pretty much what is happening in todays cyber fraud culture till the arrival of bio-chronometrics which is passive authentication of a user. The uses of bio-chronometrics have yet to be seen but the market is there. We will see.
Please send in your comments or thoughts about the future of cyber fraud.
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