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Heartland, Discover Settle for $5 Million

Last Breach-Related Settlement with Payment Card Brand
Heartland Payment Systems has reached a settlement agreement with Discover Financial Services (DFS) related to its 2008 data breach.

How to Protect Consumers from ID Theft

Mobile, Emerging Technology Pose Concerns for Institutions
Anne Wallace, president of the Identity Theft Assistance Center, says financial institutions must implement best practices to protect their customers' identities.

The Mobile Mandate

Bank of America on the Future - and Security - of Mobile Banking
Marc Warshawsky, senior vice president of mobile channel planning and design, shares his thoughts on Bank of America's pioneering mobile initiatives.

OCC Allows National Bank Offices Affected by Hurricane Earl to Close

The Office of the Comptroller of the Currency today issued a proclamation allowing national bank offices affected by Hurricane Earl to close at their discretion.

NCUA: First American Credit Union Closes

The National Credit Union Administration was appointed liquidating agent of First American Credit Union of Beloit, Wis., by the Wisconsin Office of Credit Unions on Aug. 31.

NCUA: Temporary Corporate Credit Union Share Guarantee Program Extended

The National Credit Union Administration has extended the expiration date of NCUA's Temporary Corporate Credit Union Share Guarantee Program (TCCUSGP) from September 30, 2012, to December 31, 2012.

FDIC: FDIC Holds First in a Series of Roundtables on Financial Reform

As part of the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation announced a series of roundtable discussions with external parties. The first discussion will take place on Tuesday, August 31, 2010, and focus on the new resolution authority provided in Dodd-Frank for the largest financial firms.

Fight Back Against Fraud: Strategies on How to Meet the Multi-Channel Challenge

From ATM skimming to bogus wire transfers, 2010 has been the "Year of the Fraudster" for banking institutions and their customers.

According to the latest Verizon Business Data Breach Investigations Report, financial services far and away is the most commonly breached industry, accounting for 85% of the 143 million records breached in 2009. The most common types of fraud:

Insiders;
Social engineering schemes;
Hacks by organized crime.

Symptoms of these crimes have dominated the news: ATM skimming sprees; increased incidents of ACH fraud, aka corporate account takeover; attacks against merchant' point of sale devices.

More daunting for banking institutions: These incidents aren't occurring in isolation. Rather, they tend to strike across multiple channels, testing for every possible vulnerability.

The cost to financial institutions? It breaks down two ways:

Financial - The time, expense and human resources necessary to respond to breaches, notify customers, monitor accounts and, when necessary, replace payment cards and lost funds.
Reputational - Perhaps the biggest toll of all - the loss of customer confidence when an account has been breached. The customer doesn't necessarily care who committed the breach; they just know it happened on their bank's watch.

So, how can financial institutions fight back? First they must know their enemy and the guises it wears. That's the main point of this session. Matt Speare of M&T Bank will lead the discussion, walking attendees through an overview of the types of fraud schemes institutions such as his see every day. From there, our panel of industry experts will discuss current trends and the threat landscape, as well as proven solutions to detect and deter fraud.

Mobile Banking: The Pioneer's Perspective

Bank of America is one of the leaders in mobile banking. Marc Warshawsky, SVP, discusses the bank's growth plans over the next year.

Mortgage Fraud: Compliance to be a Challenge

Attorney L.T. Lafferty says the greatest challenge financial institutions now face in mortgage lending is complying with new consumer protection regulations.

BankInfoSecurity.com Week in Review: Aug. 27, 2010

A review of this with week's top stories by managing editor Tracy Kitten: California Eyes Stronger Privacy Law; IBM Expert Offers Views on Top Security Trends and Fraud Risks.