best security practices
Company
Genome reaches a milestone in security and personal data protection with ISO 27001 and 27701
When it comes to enhancing the security of the Genome platform, our team never stops. Our team is well aware of all the pitfalls when it comes to running and maintaining the safety of financial services, which is why we are always on top of the latest security-related solutions in the industry. And, the team is happy to see that our efforts in this field paid off! Genome is now ISO 27001 and ISO 27701 certified, meaning we apply effective security measures to protect our clients’ data up to the highest of industry standards. What is ISO 27001? ISO 27001
Security
Prevent wire transfer fraud: Genome’s tips for businesses
Learn about the best practices in wire transfer fraud prevention from Genome’s Džeineta Dalia Pumputytė – Head of KYC, Deputy Head of AML, and Compliance. For additional information, check our one-pager on the matter. Do you want to know how to keep your information and funds safe from the most common types of fraud? Check Genome’s security page, where we list our advice. What is wire transfer fraud? It is a type of fraud that involves the misuse of any electronic money transfer services by malicious actors for their personal gain. To commit wire transfer fraud, scammers first use a variety
Security
Prevent card-not-present fraud: tips for individuals and businesses
Genome’s team is back with yet another article that dives into different types of fraudulent financial situations that people and businesses can face. And this time, card-not-present fraud is on the agenda. Want to know how to avoid scams associated with card-not-present transactions? We gathered some tips below. What is a card-not-present transaction? Before we get to the fraud part, let us first explain what card-not-present transactions are in general. Card-not-present transactions (also known as CNP transactions) are the type of payments a person makes with their debit or credit card. Such payments happen remotely, meaning that the card and
Money and you
Building financial security: 10 essential steps
The article has been updated on 29.08.2024 Financial security and financial independence are things that most people strive for. But achieving these is not that easy, especially if you don’t have a plan or have enough worries in your life as is. Still, you can do it in 10 steps and by being consistent. This article will cover essential actions, from cash budgeting and debt management to investing wisely and saving for retirement, helping you build a solid foundation to be financially secure. What is financial security? So, what is financial security in terms of your personal finance? Financial security
Security
The ATM skimming fraud: how to recognize and prevent it
The Genome team continues explaining the different types of fraudulent financial schemes people can find themselves in when running their day-to-day errands. And what can be more mundane than using an ATM? Unfortunately, this is why you can be caught off guard and become a victim of ATM skimming fraud. This article explains how skimming fraud occurs and how you can recognize and avoid ATM skimming. What is skimming in banking? When talking about financial fraud cases, one may be used to thinking that scammers mainly operate online, as it is easier to trick someone who can’t see you. However,
Security
Account takeover: how it happens and how to prevent it
The article was updated on 17.10.2024 Account takeover fraud is on the rise nowadays. For instance, in 2023, there was a tremendous amount of cyberattack cases – over 353 million people became victims of data breaches in the US alone. Hackers gain unauthorized access to personal accounts through phishing, credential stuffing, or sensitive data breaches, leading to significant financial losses. But how can you prevent ATO attacks and better protect yourself? Read Genome’s team’s advice to find out how to protect yourself from ATO attacks and what the best security measures are! What is an account takeover (ATO)? Account takeover
Security
Smishing in banking: how to avoid this scheme
Today, people are very accustomed to online banking services, using them daily. Unfortunately, this also means some of them get too comfortable and throw caution out of the window when performing basic online financial operations. It opens a door for fraudsters and scammers that want to steal your funds and data. And although global cyber security efforts are high, it is impossible to prevent each and every threat. Today, Genome wants to draw attention to the smishing scam, explain how it works, and advise on smishing prevention. Smishing: meaning of the term So, if you hear the word “smishing” in
Security
Is online banking safe? What you need to pay attention to
Security is the backbone of all financial institutions, including internet banking, and they have to constantly update their safety features to keep up with existing threats of today. But people should also remember that security is a two-way street, so they also need to be proactive in making sure their funds are safe. Genome is here to explain how to keep your bank account safe online and how safe digital banking is. Digital banking and banking apps: what are all of these? Before answering the “How safe is online banking” question, let’s first understand what it is. First and foremost,
Security
Rules for the safe use of internet financial services and business accounts
Online safety is crucial when it comes to banking. Especially if we are talking about business accounts. In this Genome article, we will give advice on how to stay safe while using internet financial services, how to create a strong password, and where to open a secured account. What are financial services for business accounts? First of all, a business account is a financial bank account that provides business owners with needed internet financial services. A business account is quite similar to a personal one: a user can open a digital wallet, make payments, transfer money and receive transfers, withdraw cash, and do other operations.