Cyberhackers are increasing their efforts to target online credentials. And phishing attacks waged against accountholders at Chase in the U.S. and Barclays in the U.K. have made it clear that banking accounts are the target.
ACH/Wire fraud was the big story in 2010 and helped influence the updated FFIEC Authentication Guidance. So, have incidents of corporate account takeover decreased in 2011, or are we just hearing less about them?
As 2012 nears and federal regulators prepare to examine financial institutions for conformance with the FFIEC Authentication Guidance, just how prepared are banks and credit unions? The answer may surprise you.
The Federal Deposit Insurance Corp. is warning its banks about another strand of phishing attacks purporting to come from the FDIC. The e-mails claim to offer critical information about business bank accounts.
Despite the FFIEC authentication guidance and the growth of online fraud, financial institutions still rely on outdated practices that expose customers to risk. How can institutions update their security measures?