Payments fraud: How to de-risk mission-critical business transactions
Payments fraud, data leakages, and cyber-attacks are all over the media. But how do we address fraud in a changing world veering towards full digitalisation, mobile access, and globalisation? The obvious first step is to reinforce fire-walls and systems access to protect against external attacks. However this does not address insider fraud and data theft which are carried out by authorised users employing simple, legitimate commands to manipulate systems and data. This is further complicated by the increased focus on cyber security stipulated by the regulators, new threats coming from cloud based offerings, and the need to better control mission critical transactions that the SWIFT community has to handle every day.
This presentation highlights the requirement for a multi-disciplinary approach and outlines various security layers and their interaction.