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Trends in Security Information
The HSD Trendmonitor is designed to provide access to relevant content on various subjects in the safety and security domain, to identify relevant developments and to connect knowledge and organisations. The safety and security domain encompasses a vast number of subjects. Four relevant taxonomies (type of threat or opportunity, victim, source of threat and domain of application) have been constructed in order to visualize all of these subjects. The taxonomies and related category descriptions have been carefully composed according to other taxonomies, European and international standards and our own expertise.
In order to identify safety and security related trends, relevant reports and HSD news articles are continuously scanned, analysed and classified by hand according to the four taxonomies. This results in a wide array of observations, which we call ‘Trend Snippets’. Multiple Trend Snippets combined can provide insights into safety and security trends. The size of the circles shows the relative weight of the topic, the filters can be used to further select the most relevant content for you. If you have an addition, question or remark, drop us a line at info@securitydelta.nl.
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Financial technology (fintech) solutions are emerging as a new standard for customers to interact with financial services
Customers are changing their financial behaviour and the tools with which they access and manage their finances. Financial technology (fintech) solutions are now emerging as the standard way for consumers to interact with financial service providers.
Altogether, 58% of customers banking in the EU now regularly use digital online solutions such as websites or applications to carry out transactions. While this has represented a leap in usability and accessibility of financial services for customers and financial service providers alike, this development also entails some risks.
Customers are not necessarily proficient users of these services and a lack of technical knowledge and experience may make them vulnerable to attacks by cybercriminals deploying phishing techniques and malware solutions in order to gain access to online accounts.
On the side of the financial services, increasing digitalisation and less direct interaction with customers has the potential to weaken know-your-customer (KYC) procedures, which were put in place to prevent tax fraud, money laundering and using the financial system to finance crime and terrorism.
Weakened KYC regimes increase the vulnerability of financial services to be used for various criminal activities including online banking fraud.
Research shows that mobile banking engagement has risen by 50% since the end of 2019. The COVID-19 pandemic and the steps taken to combat it are likely to accelerate the move to digital and/or fintech solutions.