Digital payments crime is increasing. COVID-19 is accelerating payments attacks against financial institutions (FIs), consumers, and even companies as the pandemic changes buying habits to online purchases with contactless payments and promotes a shift to remote work. Is there a path towards disinfecting digital payments despite these current trends? We believe there is.
By strengthening security around digital payments, hardening defenses in the cloud, and encouraging consumer-education campaigns, we see the foundation of cyber hygiene steps for building a resilient payments future.
Here are four actionable recommendations for FIs to follow beyond increasing the basic rules of cyber hygiene.