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More than Half of US Banks Say Fraud Schemes Too Sophisticated and Evolve Too Quickly to Stop, Survey RevealsOAKBROOK TERRACE, Ill., Oct. 19, 2017 (GLOBE NEWSWIRE) -- VASCO® Data Security International, Inc. (NASDAQ:VDSI), a global leader in digital solutions including identity, security and business productivity, today announced survey results on fraud prevention in the financial services sector. The 2017 Faces of Fraud Survey, conducted by ISMG, the world’s largest media organization devoted solely to information security and risk management, delivers revealing insights into the sector’s challenges in fraud practices and strategies, and underscores the growing vulnerability of mobile channels. The 2017 Faces of Fraud Survey was commissioned by VASCO and compiled with responses from banking and security leaders representing financial institutions ranging from under $500 million to more than $20 billion in assets. Key findings include:
“The survey results echo what VASCO is seeing across the market – there are myriad anti-fraud solutions to choose from, their implementation and use is not easy, and integration between solutions and across channels is limited,” said VASCO’s Cief Executive Officer, Scott Clements. “In the past, balancing security with implementation and ease of use often came with trade-offs. New identity solutions that integrate multiple authentication technologies, such as those from VASCO, are changing this equation enabling trust in identities, transactions and devices with no degradation of the user experience.” Analysts Julie Conroy from Aite Group and Avivah Litan from Gartner are quoted in the survey report reinforcing the value of anti-fraud controls including device binding, machine learning and behavioral analytics, as well as those that provide continuous authentication. These frictionless and transparent fraud controls were praised for being difficult to circumvent by fraudsters. A copy of the 2017 Faces of Fraud report is available. To download a copy of the survey results and related discussion please visit: https://www.vasco.com/resource-library/faces-of-fraud. About VASCO Media contact: |