Authentication must be multi-faceted.Cyberattacks directed at credit unions continue to grow in frequency, type and level of impact. Many of these attacks result in losses in the thousands or even millions of dollars for a single financial institution. In fact, a recent Juniper Research report said the total cost of cybercrime is expected to exceed $2 trillion this year, an amount that has quadrupled in just four short years. To make matters worse, most Americans are more fearful of being a victim of a cyber-attack than being a victim of a violent crime, according to Gallup.
One of the most effective ways to prevent fraud crimes – taking any shape or form – is to build a well-armed fortress of authentication.
