The FFIEC is expected to issue new security guidance that revisits online banking and strong authentication, and IronKey's Dave Jevans says the industry should fight online fraud, rather than focusing narrowly on ACH.
The Federal Financial Institutions Examination Council is expected to issue new security guidance that revisits online banking and strong authentication, according to industry experts who have been involved in recent meetings with the FFIEC.
When a database breach occurs, consumer notification continues to be a public problem, and it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
When it comes to fraud prevention, things are going to be different in 2011. It's clear that fraud in the United States has reached a tipping point, and financial institutions are at the center of it all.
Mobile banking and social networks are expected to pose new security threats in the payments space; and one small-business advocate says it's time for regulatory reform to solve the corporate account takeover problem.
Fraud attempts will escalate, not diminish, as new threats and channels blossom in 2011. Growth in mobile banking and the use of social networks are expected to pose new security challenges, experts say.