News Platforms 

IDnow raises $40 million for its AI-driven visual authentication platform

“IDnow has raised $40 million in venture capital as the Munich-based company expands its visual verification platform designed to speed online transactions” writes Chris O’brien for venturebeat.com. IDnow has raised at least $52 million, a resource it will need as it faces tough competition from international startups such as U.S.-based Jumio, which has raised $55 million for its visual authentication platform.Founded in 2014, the company makes a cloud-based authentication service that partners can integrate into their own products.The company says the service could now potentially be used to check IDs…

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News 

Don’t Just Buy A New Smartphone, Buy A Safe Smartphone

“Samsung Knox offers three key security features including Biometric Authentication, Secure Folder, and financial information security with Samsung Pay” writes Mashable India for mashable.com. So, in case your phone gets attacked, your card information would still be safely encrypted within a separate and secure data vault.Its security platform, Samsung Knox, comes integrated with Defense-grade security that safeguards Samsung devices (including smartphones, tablets, and smartwatches) against malicious threats.In all, Samsung Knox helps us stay a step ahead of the modern-day threats with its game-changing security features. Source: mashable.com

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News Regulators 

Denmark’s regulator allows 18-month extension for strong customer authentication implementation

“On September 14, new EU rules on strong customer authentication (two-factor authentication) are set to take effect when electronic payments are initiated” reports financefeeds.com. Denmark’s Financial Supervisory Authority (FSA) has earlier today announced it would grant 18 additional months to businesses for the implementation of strong customer authentication (SCA). Source: financefeeds.com

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Telecom firms should implement technology, services to block robocalls, AG says

“Telecom providers should implement default technology and services to block illegal and unwanted robocalls, and to protect consumers from caller-ID spoofing, Michigan Attorney General Dana Nessel says” writes Julie Mack for mlive.com. The letter from the Attorneys General comes after the FCC issued a declaratory ruling and proposed new rules related to federal and industry efforts to block illegal robocalls and eliminate caller-ID spoofing. Source: mlive.com

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Iovation: Merchants aren’t prepared for Europe’s tough anti-fraud compliance rules

“Aite conducted those interviews between November 2018 and January 2019 with payment executives from banks and other payment providers” writes Dean Takahashi for venturebeat.com. The new report, entitled “PSD2: Advent of the new payments market in Europe,” includes original research and analyzes the consequences for the global online payments market around the revised Payment Services Directive (PSD2). Source: venturebeat.com

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Facebook forces you to expose your phone number to the whole world in order to turn on two-factor authentication

“This screw-up, intentional or not, could discourage adoption of two-factor authentication, leaving people at risk of getting hacked” reports boingboing.net. Facebook forces you to expose your phone number to the whole world in order to turn on two-factor authentication Last September, Facebook drew fire for abusing the phone numbers users provided for two-factor authentication messages, sending spam advertising messages over the same channel — now, rather than reforming its ways, Facebook has doubled down on poisoning the security well, by adding a no-opt-out policy of allowing anyone in the world…

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could discourage adoption of two-factor authentication

“Even if you remove your phone number from the two-factor authentication settings page, nothing changes in the privacy settings, indicating Facebook still has your phone number” reports vice.com. This screw-up, intentional or not, could discourage adoption of two-factor authentication, leaving people at risk of getting hacked.Using two-factor authentication, a security mechanism that requires a second step to login into an account other than the password, is widely considered an essential measure to protect yourself online.Last week, Emojipedia founder Jeremy Burge warned in a viral Twitter thread that anyone could look…

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When Passwords Become Corporates’ Own Worst Enemy

“Rising frustrations with passwords have churned up excitement over sophisticated technologies, like biometrics, to safeguard data” reports pymnts.com. The reliance on passwords means those credentials become more of a security liability than protector, as cyberattackers attempt to infiltrate enterprise systems.IBM data said the average cost of a data breach is $3.86 million, with U.S. companies experiencing an even higher average of $7.91 million.Furthermore, among OneLogin‘s own customer base, it’s about a 50-50 split between organizations that use multi-factor authentication — now considered an essential standard of enterprise security — and…

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WhatsApp now lets you secure your messages behind Face ID and Touch ID on the iPhone

“Users can now choose to enable Face ID or Touch ID to securely keep the app locked down and its messages out of prying eyes” reports fastcompany.com. Though iPhones are already protected with biometric authentication, it’s a nice security touch that Facebook is adding biometric authentication directly to the WhatsApp app too.An update to the Facebook-owned messaging app has just been released for the iPhone that adds an extra layer of security for WhatsApp users on Apple’s devices. Hopefully this is an added layer of security that more messaging and…

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