We're Paranoid about Security
14 October 2019

The cost of cybercrime in 2017 reached a staggering £550 billion and is expected to rise to over £1 trillion by 2020. 

In the digital age we live in, the need for additional security measures and selecting a provider that puts security first is essential to ensuring you safely navigate through the sometimes murky waters of the online world.

That is why at Privalgo, ensuring our clients' security and peace of mind is at the heart of everything we do. 

Securing Every Transaction

Privalgo is amongst one of the first Electronic Money Institutions (EMI) to comply with the European Union's new Strong Customer Authentication (SCA) security protocols. These new measures were made compulsory for all major financial institutions mid-September, with an 18 month concession period granted to EMI's and other smaller financial service providers.

At Privalgo we're paranoid about our clients' security, and that's why we have already implemented these new security measures, at the same time as most major banks.

Protecting you at every Stage 

Every transaction on Insight™, our client portal, is now uniquely authorised by a one-time verification code delivered to your mobile device via SMS.

This additional layer of security is referred to as Dynamic Linking and is one of the most discussed SCA requirements and was introduced to counter man-in-the-middle attack. This is when a cyber-attacker changes details of a transaction, without the payer noticing. For example, an attack could result in a genuine transfer of £100,000.00 turning into a rogue transfer of £1,000,000.00 to an imposter. To defend against this during payment transactions, the payer must be aware of the amount and recipient of the transaction and the authentication code must be dynamically linked to these details.

We're Paranoid about Security
14 October 2019

The cost of cybercrime in 2017 reached a staggering £550 billion and is expected to rise to over £1 trillion by 2020. 

In the digital age we live in, the need for additional security measures and selecting a provider that puts security first is essential to ensuring you safely navigate through the sometimes murky waters of the online world.

That is why at Privalgo, ensuring our clients' security and peace of mind is at the heart of everything we do. 

Securing Every Transaction

Privalgo is amongst one of the first Electronic Money Institutions (EMI) to comply with the European Union's new Strong Customer Authentication (SCA) security protocols. These new measures were made compulsory for all major financial institutions mid-September, with an 18 month concession period granted to EMI's and other smaller financial service providers.

At Privalgo we're paranoid about our clients' security, and that's why we have already implemented these new security measures, at the same time as most major banks.

Protecting you at every Stage 

Every transaction on Insight™, our client portal, is now uniquely authorised by a one-time verification code delivered to your mobile device via SMS.

This additional layer of security is referred to as Dynamic Linking and is one of the most discussed SCA requirements and was introduced to counter man-in-the-middle attack. This is when a cyber-attacker changes details of a transaction, without the payer noticing. For example, an attack could result in a genuine transfer of £100,000.00 turning into a rogue transfer of £1,000,000.00 to an imposter. To defend against this during payment transactions, the payer must be aware of the amount and recipient of the transaction and the authentication code must be dynamically linked to these details.

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