Are institutions making the right investments in anti-fraud technologies? As they conform to the FFIEC's updated Authentication Guidance, many could miss the mark, warns Aite's Shirley Inscoe.
A month after Microsoft announced its initiative to take down Zeus-related botnets, has it had a major impact? Supporters of Operation B71 say "yes." But how can they be so sure?
Too many banks and credit unions are being narrow-minded in their approaches to FFIEC Authentication Guidance conformance, by focusing on commercial accounts and neglecting retail accounts, one ACH fraud attorney says.
When it comes to curbing ACH fraud, banking regulators and law enforcement agencies have joined forces to keep institutions abreast of emerging best-practices. What are their top recommendations?
In Texas, banking leaders and law enforcement agencies have joined forces to attack ACH and wire fraud. Learn about the anti-fraud recommendations they've developed.
When Joseph Bognanno of Wolters Kluwer Financial Services examines 2012's financial fraud trends, all he sees is more - more of everything, from schemes to new guidance. How can banks stay ahead?
Banking institutions expect significant increases in fraud-fighting resources in 2012. But in which solutions should they invest? Banking CTO Michael Wyffels has some prioritized suggestions.
When it comes to the FFIEC Authentication Guidance, Aite analyst Shirley Inscoe fears too many banking institutions are investing only in achieving compliance - not ongoing security.
According to our new survey, more than half of banking institutions expect an increase in fraud-fighting resources this year. But how are they investing those resources? The answers may surprise you.
The bring-your-own-device phenomenon has swept global businesses, and the challenge only intensifies with every new wave of smart phones, tablets and portable storage devices.
It's no longer a question of whether organizations will allow employees to use their own mobile devices. That's already happening.
The...
While Microsoft's move to take down Zeus malware-related botnets is touted as a unique approach to fight financial fraud, some industry experts question its long-term viability. What are their concerns?
Microsoft Corp. says it led a team that has successfully disrupted command and control servers used to run some of the world's most damaging variations of botnets proliferating the Zeus malware.
The FFIEC Authentication Guidance update has been in circulation since mid-2011. But as banking examiners begin testing for conformance, we find:
Only 11% of surveyed institutions have come into conformance since the guidance was issued;
Nearly 30% don't fully understand the guidance;
88% do not believe the...
Everyone knows that banking is a key target for cyber criminals - that's where the money is. But traditionally it has been the big financial organizations that were the target. In 2010, smaller financial institutions became targets through account takeovers, attacks which caused a surge in stolen online banking...
Unmistakably, the release of the FFIEC supplement was the result of an increasingly hostile online banking environment created by the introduction of advanced malware. To effectively comply with FFIEC guidelines, financial organizations need to select a solution that is able to provide real-time threat intelligence...
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