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Ransomware attacks continue to dominate the headlines. However, there is another cyber threat that the banking industry needs to turn its attention to: The growing risk from credential stuffing attacks.

This threat has become increasingly pressing in recent years, with the FBI recently issuing a security advisory warning that credential stuffing is now a major threat facing financial organizations. While there are many drivers behind this threat vector, in this article I’ll be focusing on one in particular – the broad deployment of application programming interfaces (APIs). These have become increasingly popular in recent years to enable innovative digital banking services, but credit unions must be cognizant of the new vulnerabilities that open banking introduces.

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