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Banks can’t tell cyber attacker from customer

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A survey by Kaspersky Lab and B2B International has revealed that 38% of organisations now find that it is increasingly hard to tell whether a transaction is fraudulent or genuine.

A survey conducted by Kaspersky Lab and B2B International has uncovered that banks and payment organisations globally are finding it difficult to manage online financial fraud in today’s connected and complex technological landscape. Over a third (38%) of organisations admit that it is increasingly hard to tell whether a transaction is fraudulent or genuine.

The explosive growth of e-payments, combined with new technological developments and shifting business needs, has forced companies to enhance the effectiveness of their business processes in recent years. In many cases, this has been achieved by implementing e-flow systems for interacting with suppliers and clients etc. E-payments of all types have become so ubiquitous today that it is absolutely impossible for businesses to completely avoid electronic transactions of any kind.

As companies become increasingly immersed in digital environments, ensuring business continuity and protecting themselves against cyber threats will be crucial. As the number of online transactions increases, so does the level of online fraud, with 50% of financial services organisations surveyed believing online financial fraud is increasing. It is clear that financial institutions need to make every effort to protect their business and customers from cybercriminals.

The survey showed that 41% of businesses have implemented an in-house cybersecurity solution and 45% rely on a third-party solution from their bank, to mitigate the risks. Still, 46% of companies have either only partially implemented a solution against financial fraud, or have not implemented one at all. Among financial organisations, only 57% have a dedicated anti-fraud security solution.

According to these findings, about half of the organisations operating in the electronic payments landscape use non-specialist solutions, which, according to statistics, are unreliable against fraud, and show a high percentage of false positives. The incorrect use of security systems can also lead to transactions being blocked. It should also be noted that the deviation of payments may lead to a loss of customers and, ultimately, profits. This is therefore a critical issue for every business. Fraud itself is not the only problem, financial institutions need to reduce the number of false alarms in their systems, to provide the best customer service possible.

“Considering the aggressive competition in today’s fierce financial services market and the extreme disruption from non-traditional providers, a trusted relationship between customers and their financial institutions is a decisive factor for the long-term prosperity of any company. The interdependence of the digital relationships between all financial services market players also means that if any organisation in the value chain experiences a digital service issue (whether due to fraud, breach, cyber-attack, etc.), the damage can quickly spread to the other organisations in that digital financial service value chain. As the already high volume of customer demand for online transactions continues to increase, all companies (its customer facing digital platforms, infrastructure, data, and employees) should be secure, convenient, and prepared. It’s crucial, therefore, to use specialised fraud prevention solutions that will provide customers with the most convenient and safest service possible,” comments Ross Hogan, Kaspersky Lab Global Head of Fraud Prevention.

Kaspersky Lab’s experts recommend that banks and payment services use comprehensive online fraud protection methods to protect their clients at several levels. Such as Kaspersky Fraud Prevention platform, which includes threat control tools installed on client devices, as well as the server component located within the bank’s information infrastructure. It provides multi-layered protection for online and mobile banking.

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YouTube Music announces Smart Downloads, SA playlists

The service has introduced Smart Downloads which takes allowing users to store and play hundreds of tunes offline, automatically.

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The latest updates from YouTube Music, for subscribers of its Music Premium and Premium services, include a new feature that allows users to switch seamlessly between a song and its music video for an uninterrupted experience.

It has also introduced Smart Downloads which takes the work out of downloading music, allowing users to store and play hundreds of tunes offline, automatically. YouTube Music has also announced new playlists for South Africa. 

The updates all reflect features that are popular on the global leader in music streaming, Spotify, and that have been key to its growth.

YouTube said in a statement on Friday: “Imagine listening to a new track by your favourite artist in the YouTube Music app and having the ability to seamlessly switch over to watch the music video – no pauses, no interruptions, just a simple tap that keeps the music flowing. This standout new feature from YouTube Music allows YouTube Premium and YouTube Music Premium subscribers to make a seamless transition between a song and its music video for uninterrupted listening and/or watching. Whether you’re in the mood for listening or watching (or a little of both)… it’s all here – no app switching required.”

With Smart Downloads, YouTube Music automatically saves music at night, when connected to Wi-Fi, helping subscribers to use less mobile data, enjoy a smoother updating experience and save up to 500 songs offline using Liked Songs playlist as well as other playlists and albums. 


Previously, music lovers could use the Offline Mixtape feature to download up to 100 songs, specifically chosen for them based on what they listened to most on the platform. Now, with Smart Downloads, they select the number of songs they would like automatically downloaded by toggling their YouTube Music Settings. This means YouTube Music Premium subscribers with Smart Downloads enabled on their mobile devices can now access hundreds of tracks regardless of connectivity. 

This feature is currently available on Android, with plans to bring it to iOS in the future.

Click here to read more about YouTube Music playlists, and find out what is inside them.

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Make cars, not waste

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Jaguar Land Rover is trialling an innovative recycling process which converts plastic waste into a new premium grade material that could feature on future vehicles. 

It’s estimated that the amount of waste plastic is predicted to exceed 12 million tonnes globally by 2050*. Today, not all of this plastic can be recycled for use in automotive applications – especially in vehicle parts that are required to meet the most exacting safety and quality standards.

Working in conjunction with chemical company, BASF, Jaguar Land Rover is part of a pilot project called ChemCycling that upcycles domestic waste plastic, otherwise destined for landfill or incinerators, into a new high-quality material. 

The waste plastic is transformed to pyrolysis oil using a thermochemical process. This secondary raw material is then fed into BASF’s production chain as a replacement for fossil resources; ultimately producing a new premium grade that replicates the high quality and performance of ‘virgin’ plastics. Importantly, it can be tempered and coloured making it the ideal sustainable solution for designing the next-generation dashboards and exterior-surfaces in Jaguar and Land Rover models.

Jaguar Land Rover and BASF are currently testing the pilot phase material in a Jaguar I-PACE prototype front-end carrier overmoulding to verify it meets the same stringent safety requirements of the existing original part.

Pending the outcome of the trials and progression in taking chemical recycling to market readiness, adoption of the new premium material would mean Jaguar Land Rover could use domestically derived recycled plastic content throughout its cars without any compromise to quality or safety performance**. 

Chris Brown, Senior Sustainability Manager at Jaguar Land Rover, said: “Plastics are vital to car manufacturing and have proven benefits during their use phase, however, plastic waste remains a major global challenge. Solving this issue requires innovation and joined-up thinking between regulators, manufacturers and suppliers.

“At Jaguar Land Rover, we are proactively increasing recycled content in our products, removing single-use plastics across our operations and reducing excess waste across the product lifecycle. The collaboration with BASF is just one way in which we are advancing our commitment to operating in a circular economy.”

This is the latest example of Jaguar Land Rover’s commitment to addressing the challenge of waste plastic. The company has collaborated with Kvadrat to offer customers alternative seat options that are both luxurious and sustainable. The high-quality material, available initially on the Range Rover Velar and Range Rover Evoque, combines a durable wool blend with a technical suedecloth that is made from 53 recycled plastic bottles per vehicle. 

Jaguar Land Rover has already met its 2020 target for Zero Waste to Landfill for UK operations. This includes the removal of 1.3 million m2 – equal to 187 football pitches – of plastic from its manufacturing lineside and replacing 14 million single use plastic items in business operations. 

Together, these efforts are driving towards Jaguar Land Rover’s vision for Destination Zero; an ambition to make societies safer and healthier, and the environment cleaner. Delivered through relentless innovation to adapt its products and services to the rapidly-changing world, the company’s focus is on achieving a future of zero emissions, zero accidents and zero congestion.

Editor’s notes:

https://advances.sciencemag.org/content/3/7/e1700782.full

** All Jaguar and Land Rover vehicles tested have achieved a Euro NCAP 5* rating.

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