Desai continued: “I think the key thing is removing the consumer from the security process. Cyberattacks will only escalate because the funding of them has gone from small-time criminals to organized gangs to state sponsorship and until we remove the consumer, they will never end.”
“Petya is a different kind of malware from WannaCry,” said Jonathan Care, fraud expert and research director at Gartner, in a blog post last week. “Common delivery methods are via phishing emails, or scams, however it seems increasingly likely that Petya uses an infected application update from a breached software vendor as its initial infection vector.”
In early June, Desai’s company was announced as the authentication provider for the peer-to-peer mobile payments network Zelle, which is backed by several big banks including Bank of America, Citibank, JPMorgan Chase and Wells Fargo.
Payfone unveiled its authentication technology at the Mobile World Congress, Shanghai, a conference which showcases new mobile technologies and products.
