Business and tax app, ANNA has introduced biometric re-authentication procedures to stamp out cybercrime from taking place on illegally accessed accounts.
Reauthentication is a good way to ensure customers can rest easy knowing organisations are continuously looking out for them to ensure their data is safe. If someone tries to access their ANNA account from a new device, a biometric re-authentication notification will appear, prompting the user to submit some sort of identity verification: usually a selfie. If the match cannot be made, the account is suspended.
To further boost security, ANNA has also added ongoing random biometric authentication checks that require a customer selfie. Consequently, fraudsters that have scammed their way into someone’s account, snatched an unlocked phone, or are using a ‘mule’ account to launder money, will immediately be locked out of the account.
Leven Li, ANNA’s chief compliance officer commented on the launch saying: “While random biometric re-authentication programme is mainly aimed at detecting accounts accessed and misused by criminals who have not been through our know your customer process, there’s no friction at all for our regular customers. It’s just a quick selfie – which we are all used to doing – and it’s keeping our customers and their accounts much safer from day-to-day threats, like fraudsters trying to scam their way in or phone snatchers who try to access accounts by bypassing security protections.”
Preparing for APP reimbursement regulations
This is one of many ways in which ANNA has prepared for the Payment Systems Regulator’s new rules for reimbursing authorised push payment fraud (APP). APP fraud is where someone is tricked into sending money to a fraudster who is posing as a genuine payee.
The new rules mean that payment services providers (PSPs) like ANNA are legally required to reimburse eligible claims from customers who fall victim to APP fraud through faster payments and CHAPs payments, up to a maximum repayment limit. They may also charge an £100 excess for claims and can share reimbursement costs 50:50 between sending and receiving PSPs. They are also required to provide additional protection for vulnerable customers.
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