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Seems like a good idea to me. US market first as you would expect…
American Express Integrates Facial and Fingerprint Recognition Into Safekey for Enhanced Security
American Express (NYSE:AXP) (Amex) has taken a significant step towards enhancing online transaction security by integrating facial and fingerprint recognition into its fraud prevention tool, SafeKey. This move was announced on Thursday by John J. Kieley of American Express, making Amex the first card issuer to employ such biometric measures.
The integration is part of a pilot program currently being tested with a select group of U.S. consumer cardholders. The company plans to roll out these features to all U.S. consumer card members in the upcoming year. The biometric features will be introduced during the SafeKey checkout process, aiming to optimize checkout and prevent fraud.
This initiative is in collaboration with the Fast IDentity Online (FIDO) Alliance and the World Wide Web Consortium, two entities committed to enhancing online security. The integration aligns with findings from a study by PYMNTS and Amazon (NASDAQ:AMZN) Web Services (AWS), which highlighted a rising trend in the use of biometric payments.
Greg Esser from Entersekt further underscored the need for such measures, pointing out vulnerabilities in One-Time Password (OTP) systems. These systems are susceptible to man-in-the-middle attacks where fraudsters trick users into visiting fraudulent sites to gain unauthorized access.
This move by American Express comes amidst an anticipated surge in real-time payment volume by 32.6% by 2027, as per an ACI Worldwide (NASDAQ:ACIW) report. The report also predicts an increase in financial crimes, highlighting the importance of bolstering security measures.
The integration of biometric capabilities also follows remarks made by CEO Steve Squeri on the issue of elderly consumers being targeted via gift card scams. This development further underscores Amex’s commitment to combat fraud and enhance security for its cardholders.
I’m surprised it’s US market first to be honest. The UK/European market is usually the early adopter for financial stuff.
Astonishing it’s taken them so long to move away from SMS for authentication codes. More astonishing is that they’re ‘first’.
Astonishing it’s taken them so long to move away from SMS for authentication codes. More astonishing is that they’re ‘first’.
Is anyone else annoyed by having to open other apps to ‘approve’?
Half the time the other app wants your signin and by the time you signin the request disappears.iOS conveniently copies the sms code. Will miss that.
Astonishing it’s taken them so long to move away from SMS for authentication codes. More astonishing is that they’re ‘first’.
Is anyone else annoyed by having to open other apps to ‘approve’?
Half the time the other app wants your signin and by the time you signin the request disappears.iOS conveniently copies the sms code. Will miss that.
iOS does auth codes too. You will just enable FaceID. Even easier. Fewer security problems.
SMS is ubiquitous, and handled well in ios, but too many people have message summaries appear on their lockscreen. This means if I steal you phone and your credit card I can authorise large payments online. App based auth requiring an unlock is less prone to fraud.
Everyone, please, turn off SMS summaries on your lock screen. It’s a big risk if your phone is lost or stolen.
Speaking of phone safety…
I read somewhere that in London it is getting more and more rampant that the knife criminals are now collecting iphones passcodes by putting a knife against you.Any smart way to prevent this with icloud etc?
Speaking of phone safety…
I read somewhere that in London it is getting more and more rampant that the knife criminals are now collecting iphones passcodes by putting a knife against you.Any smart way to prevent this with icloud etc?
lock then wipe the device from a PC using “find my” in icloud.com on any web browser
Speaking of phone safety…
I read somewhere that in London it is getting more and more rampant that the knife criminals are now collecting iphones passcodes by putting a knife against you.Any smart way to prevent this with icloud etc?
lock then wipe the device from a PC using “find my” in icloud.com on any web browser
By the time you can do that, the thief will have used your passcode to remove the device from your Apple ID and wiped it ready to re-sell.
Speaking of phone safety…
I read somewhere that in London it is getting more and more rampant that the knife criminals are now collecting iphones passcodes by putting a knife against you.Any smart way to prevent this with icloud etc?
lock then wipe the device from a PC using “find my” in icloud.com on any web browser
By the time you can do that, the thief will have used your passcode to remove the device from your Apple ID and wiped it ready to re-sell.
That’s my concern. It’d be too late for me to wipe it clean
Everyone, please, turn off SMS summaries on your lock screen. It’s a big risk if your phone is lost or stolen.
How do you do that? I never used to get the summaries but they now seem to pop up automatically on my phone – android Samsung Galaxy S20. Is it simply a case of switching off the “Appear on top” setting?
Everyone, please, turn off SMS summaries on your lock screen. It’s a big risk if your phone is lost or stolen.
How do you do that? I never used to get the summaries but they now seem to pop up automatically on my phone – android Samsung Galaxy S20. Is it simply a case of switching off the “Appear on top” setting?
Depending on your version of Android, you can turn notifications off per app and/or you can hide sensitive content https://support.google.com/android/answer/9079661?hl=en-GB#zippy=%2Coption-hide-sensitive-content-fr
That’s my concern. It’d be too late for me to wipe it clean
Avoid apps that give access to very sensitive information with just a passcode is all I could suggest. The iOS the password manager falls back to passcode if FaceID fails which means a thief with a passcode has access to all your iOS passwords. That might be worse than a £1000 insurance claim.
My bank account does FaceID authentication but fallback in the absence of my mug is not something a thief could get past. Everything else is an annoyance. Well, unless they’d like to pay my electricity bill for me which would be a complete win.
I guess a determined thief could use the accounts on my phone for a very effective ID theft and cause damage that way, but I’d wager people stealing phones in the street are not the sharpest tools in the box.
Thanks @BforBen. Very helpful.
That’s my concern. It’d be too late for me to wipe it clean
Avoid apps that give access to very sensitive information with just a passcode is all I could suggest. The iOS the password manager falls back to passcode if FaceID fails which means a thief with a passcode has access to all your iOS passwords. That might be worse than a £1000 insurance claim.
My bank account does FaceID authentication but fallback in the absence of my mug is not something a thief could get past. Everything else is an annoyance. Well, unless they’d like to pay my electricity bill for me which would be a complete win.
I guess a determined thief could use the accounts on my phone for a very effective ID theft and cause damage that way, but I’d wager people stealing phones in the street are not the sharpest tools in the box.
Thanks, I am already there, I believe. Without faceID you’d need different passcodes for each of my banking apps..
Speaking of phone safety…
I read somewhere that in London it is getting more and more rampant that the knife criminals are now collecting iphones passcodes by putting a knife against you.Any smart way to prevent this with icloud etc?
lock then wipe the device from a PC using “find my” in icloud.com on any web browser
By the time you can do that, the thief will have used your passcode to remove the device from your Apple ID and wiped it ready to re-sell.
Quite possibly. In which case you’ve lost a phone that is hopefully insured. You have not had all your banks cleared out.
The more common case is a bag stolen from a gym. Wallet and phone included. If you have SMS displayed a thief can play merry hell without knowing the device code or waving a knife around. Some banks are more prone to this type of attack than others. Some thieves move very fast.
Use case for Curve: if its the only thing in your physical wallet the attacker has no account details from debit cards to get them started.
Speaking of phone safety…
I read somewhere that in London it is getting more and more rampant that the knife criminals are now collecting iphones passcodes by putting a knife against you.Any smart way to prevent this with icloud etc?
lock then wipe the device from a PC using “find my” in icloud.com on any web browser
By the time you can do that, the thief will have used your passcode to remove the device from your Apple ID and wiped it ready to re-sell.
Quite possibly. In which case you’ve lost a phone that is hopefully insured. You have not had all your banks cleared out.
The more common case is a bag stolen from a gym. Wallet and phone included. If you have SMS displayed a thief can play merry hell without knowing the device code or waving a knife around. Some banks are more prone to this type of attack than others. Some thieves move very fast.
Use case for Curve: if its the only thing in your physical wallet the attacker has no account details from debit cards to get them started.
Equally could just not print account details on debit cards, ala Natwest Group and Chase.
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