In this global, remote and digital world we live in, we often use various communication tools such as video, phone, email, SMS, messaging apps and social media, as alternatives to in person face-to-face interactions. In fact we increasingly use these channels as almost exclusive means to communicate… But is it safe?
In this post I will talk about the risks involved in using email, text messages and other messaging platforms for communicating highly sensitive messages (e.g. money movement instructions, contract negotiation, intellectual property exchange, etc). I will also explain how AuthenticMessage™, our newly released trusted messaging platform, addresses these risks. As a background I recommend you read my earlier post about business email compromise.
Out of all messaging platforms, email is probably the one most used for business communication, whether internally or with vendors and customers. However, it is one of the most risky ways to communicate, so it is a good place to start my review by comparing email to AuthenticMessage™. Check out the table below.
While the comparison table above focuses on email, other messaging platforms and apps share similar vulnerabilities. SMS and other text messaging apps that identify people by phone numbers are subject to SIM swap attacks and other messaging platforms are subject to account takeover and malware attacks. And the so-called “secure email” solutions are focused on encrypting and securing the communication from point A to point B but they still lack the level of verification required at each end point.
To summarize, we developed AuthenticMessage™ to help organizations safeguard their most sensitive communication and avoid becoming victims to social engineering scams such as Business Email Compromise (BEC).
And in the context of BEC, AuthenticMessage™ can help banks identify trusted payments so they can move payments faster for their customers. Using the platform’s APIs, banks can verify whether the payment request was authenticated by Obsecure and gain a higher level of trust that the payment is legitimate.
If you are concerned about becoming a victim, get exclusive access to AuthenticMessage™ by clicking here.