Author: Pierre Remy

Wire transfers are a frequently used method for transferring large sums between banks, especially in high-stakes transactions like real estate closings, legal settlements, and business acquisitions. However, their speed and convenience also make them a prime target for fraud and theft, often through business email compromise (BEC) and social engineering.

Secure practices for exchanging wire transfer information are essential to protect all parties involved. To help reduce the risk of attack, here are the best practices for safeguarding wire transfers.

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Account takeover (ATO) is a growing threat, with attackers exploiting weak recovery processes to bypass strong authentication methods. ATO incidents surged in recent years, causing significant financial losses and data breaches. No matter how strong the authentication may be, a weak account recovery process when someone forgets their username or password or gets a new device can undermine the entire system. Companies face a significant challenge—implementing account recovery processes that prevent fraud without creating customer friction. Trust Stamp’s Stable IT2 addresses this by securing both authentication and recovery, eliminating the weak links that lead to account takeovers.

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Account takeover (ATO) is a growing threat, with attackers exploiting weak recovery processes to bypass strong authentication methods. ATO incidents surged in recent years, causing significant financial losses and data breaches. No matter how strong the authentication may be, a weak account recovery process when someone forgets their username or password or gets a new device can undermine the entire system. Companies face a significant challenge—implementing account recovery processes that prevent fraud without creating customer friction. Trust Stamp’s Stable IT2 addresses this by securing both authentication and recovery, eliminating the weak links that lead to account takeovers.

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In a recent alarming warning, Attorneys general in at least two states revealed that healthcare data breaches have surged, with up to one-third of Americans potentially affected. With the increasing digitalization of medical records and patient data, healthcare providers are becoming prime targets for cybercriminals seeking to exploit sensitive personal information. The implications of identity theft in healthcare are profound, affecting not only the financial standing of individuals but also the integrity of healthcare systems and the quality of care provided.

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In a recent alarming warning, Attorneys general in at least two states revealed that healthcare data breaches have surged, with up to one-third of Americans potentially affected. With the increasing digitalization of medical records and patient data, healthcare providers are becoming prime targets for cybercriminals seeking to exploit sensitive personal information. The implications of identity theft in healthcare are profound, affecting not only the financial standing of individuals but also the integrity of healthcare systems and the quality of care provided.

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Reinforcing Our Commitment to Security and Privacy by Design

Trust Stamp is proud to announce that we have achieved SOC 2 compliance, an important validation of our dedication to integrating security and privacy into the core of our services. This compliance, independently attested by Prescient Assurance, demonstrates our unwavering commitment to safeguarding the sensitive information entrusted to us by our clients.

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Reinforcing Our Commitment to Security and Privacy by Design

Trust Stamp is proud to announce that we have achieved SOC 2 compliance, an important validation of our dedication to integrating security and privacy into the core of our services. This compliance, independently attested by Prescient Assurance, demonstrates our unwavering commitment to safeguarding the sensitive information entrusted to us by our clients.

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With Governor Ron DeSantis signing into law the new social media restrictions for minors in Florida, a significant shift in how social media companies operate within the state is imminent. This groundbreaking law, effective from January 1st, prohibits children under the age of 14 from creating social media accounts and requires parental permission for those aged 14 and 15. This move, aimed at protecting the mental health and privacy of young Floridians, sets the stage for an intensified focus on age assurance technologies.

Age assurance, as outlined in a comprehensive overview by the Future of Privacy Forum, encompasses a range of methods designed to ascertain the age or age range of individuals online. These technologies range from simple age gates, where users enter their birthdates, to more sophisticated systems like facial characterization for age estimation and biometric plus government ID matching for age verification.

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