This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
08/07/2026
Why Passkeys Are Closing the Account Takeover Gap
Gov Info Security
Passwords remain a weak point in account security, especially when attackers can buy stolen credentials and exploit recovery workflows. Account takeover has long plagued the industry because usernames and passwords are easy to forget, steal or reuse, letting criminals impersonate a legitimate user.
Passkeys replace usernames, passwords and security questions with device-based cryptography and biometric verification. The private key remains on the user's device, while facial recognition or another biometric unlocks access. Ajit Gaddam, head of fraud, financial crimes and product security at HealthEquity, said this model can shorten login times, improve identity assurance and reduce reliance on recovery workflows that attackers often exploit.
More Info
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information