Sean Neary writes in Finextra about the long-term implications of the British Airways hack (and the many others like it), discussing what's at stake and the challenges that remain ahead.
The finance world may still have concerns after it was revealed that British Airways (BA) was victim to a two-week long hack that resulted in 380,000 payments being compromised in August. And while everyone might be on high alert today for how fraudsters will use this data trove, the real risk may come further down the line.
Overcoming the challenge posed by savvy criminals with vast amounts of compromised data, who also have an intricate understanding of lender operations, is extremely difficult. It requires identifying fraudulent events from genuine ones.
Thankfully, AI-driven fraud solutions can recognize an individual's unique behaviours in situational context, protecting customers in a world where these type of attack will only become increasingly prevalent.