Latest cybersecurity reporting from selected sources.

Report Reveals Growing Trend of Fraudsters Intercepting SMS-Based VerificationFinancial institutions have historically relied on one-time passcodes as a primary authentication control for their accountholders. But OTP verification is less reliable as fraudsters increasingly exploit SMS-based verification weaknesses to carry out account takeover and payment fraud schemes.

Fraud Specialist David Barnhardt on Addressing Authentication Risks of Agentic AIFinancial institutions are racing to deploy AI agents that can initiate payments, approve transactions and freeze accounts. But traditional authentication frameworks assume there's a human on the other end. As agentic AI use grows, banks are facing an authentication crisis that demands new controls.

Experts Advise Moving From Verifying Identities to Knowing Agent IntentionsFinancial institutions are rushing to deploy AI agents capable of autonomously initiating transactions, approving payments and freezing accounts in real time. But AI agents are creating a "dual authentication crisis" that traditional security frameworks cannot address.

Banking Sector Faces Challenges in Meeting March 2026 Compliance DeadlineThe Central Bank of UAE has issued a directive asking financial institutions to eliminate weak authentication methods including SMS and email OTPs. Banks are also expected to implement real-time fraud monitoring and suspend sessions when malicious activity is detected.

Machine Learning, Generative AI Bolster Continuous User AuthenticationFinancial institutions can use AI-fueled behavioral biometrics for real-time identity assurance. By continuously profiling how users interact with devices, firms can shift from one-time authentication to real-time identity assurance, turning every click, pause and keystroke into a frontline defense.

Hackers Bypass MFA to Steal Australians' Banking CredentialsMelbourne-based ANZ Bank will introduce passwordless authentication for digital banking services amid news that hackers have stolen the banking credentials of tens of thousands of Australians. Cybercriminals used infostealer malware to steal the credentials of more than 30,000 Australians.