–News Direct–
Trust Stamp CTO Scott Francis joined Steve Darling from Proactive to issue a warning to financial institutions and their customers regarding the emerging dangers posed by Trojans targeting bank accounts. One such newly discovered Android Trojan, dubbed "GoldDigger," has raised concerns among cybersecurity experts.
Furthermore, Group-IB's threat intelligence unit identified a cluster of aggressive banking Trojans, including GoldPickAxe, which is the first known iOS Trojan designed to harvest facial biometric data for unauthorized access to bank accounts.
Francis emphasized the importance of safeguarding biometric data in light of rapidly evolving attacks like these Trojans. He highlighted Trust Stamp's revolutionary Stable IT2 TM technology and biometric multi-factor authentication, which do not store or retain any biometric data on vulnerable devices.
Additionally, no identifying data is stored on the user's device. This biometric cryptographic system offers authentication without leaving behind any biometric breadcrumbs that could be exploited by cybercriminals. By combining biometric multi-factor authentication with device authentication, Trust Stamp disrupts the transaction flow used by attackers behind these Trojans. This approach not only utilizes biometric authentication with proof of life but also ensures that the user is in possession of the authorized device, thereby enhancing security and mitigating the risks associated with such attacks.
Contact Details
Proactive USA
+1 347-449-0879
na-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/trust-stamp-flags-trojan-impacting-3rd-party-biometric-systems-on-ios-268959100
T Stamp Inc
COMTEX_448477506/2655/2024-02-28T07:06:14
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Top 10 Digest journalist was involved in the writing and production of this article.