Expert On NCR Barred Mint, QuickBooks From Banking Platform During Account Takeover Storm

Banking industry giant NCR Corp. [NYSE: NCR] late last month took the unusual step of temporarily blocking third-party financial data aggregators Mint and QuickBooks Online from accessing Digital Insight, an online banking platform used by hundreds of financial institutions. That ban, which came in response to a series of bank account takeovers in which cybercriminals used aggregation sites to surveil and drain consumer accounts, has since been rescinded. But the incident raises fresh questions about the proper role of digital banking platforms in fighting password abuse, Brian Krebs reported.


EXPERTS COMMENTS
Jonathan Deveaux, Head of Enterprise Data Protection,  comforte AG
November 06, 2019
Jonathan Deveaux, head of enterprise data protection at comforte AG
Halting business transactions because of cybersecurity concerns should not be considered something new. In this case, NCR recognized a cybersecurity situation in which a set of consumers were severely impacted, and took action to temporarily block certain companies from accessing an online banking platform. In principal, some cybersecurity standards and regulations call for similar actio ....
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Elad Shapira, Head of Research,  Panorays
November 06, 2019
The industry is moving towards a positive trend where NCR took action in relation to third party security.
NCR’s temporary blocking of third-party financial data aggregators Mint and QuickBooks Online from accessing Digital Insight is noteworthy for three reasons: It illustrates what can happen if passwords are reused, it underscores the tremendous risk that third-parties can potentially pose to banking customers, and it demonstrates how companies such as NCR are taking steps to mitigate that risk. ....
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Tim Erlin, VP of Product Management and Strategy ,  Tripwire
November 05, 2019
variety of services have grown organically from the more traditional banking system.
The complexity of the interconnected financial services industry is difficult for the average consumer to comprehend. This complexity provides avenues for attackers to exploit. A variety of services have grown organically from the more traditional banking system, and while security is often a top concern for each institution, the gaps between them can leave room for risk. When you have an inciden ....
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