2014 is finally the "The Year of Security." When the year stars fresh on the heels of the announcement that Target has suffered a data breach that impacts tens of millions of consumer payment cards ... that gets attention. And when that's followed up quickly with a second major breach, this one of luxury retailer...
U.S. prosecutors say a Romanian man faces six charges that he directed a large-scale ATM skimming scheme that defrauded multiple financial institutions out of at least $5 million.
Major cyberthreat concerns for banking institutions in 2014 include DDoS attacks, mobile malware, ransomware and insider threats, among others. Experts offer insights on mitigation strategies.
A new identity fraud study shows that consumers who are victims of a payment card breach are at greater risk of fraud than victims of other types of breaches, says Al Pascual of Javelin.
Well-organized cybercriminals operate in powerful networks that allow them to attack thousands of online businesses using an efficient and scalable model. Hackers steal millions of credit cards and identity data to be sold to fraud rings. Using proxies and VPN, the fraud rings launch global fraud attacks from anywhere...
How can banking institutions improve their fraud detection and prevention efforts in 2014? Doug Johnson and Jane Yao of the American Bankers Association provide insights based on recent research.
Banks can significantly reduce their levels of bad debt and collections expenses by specifically targeting first-party fraud. Advanced network analytics with real-time screening is the key to early detection and prevention of risk threats before they result in large losses.
Download the white paper to...
A lawsuit filed by a now-defunct escrow firm against a bank following a $1.5 million cyberheist will reopen debate over who's responsible when account takeovers lead to fraud.
Big data is a hot item on every banking institution's security agenda, says Gartner analyst Avivah Litan. Here she explains why mid-sized institutions are in the best position to implement new technology.
Most security professionals focus on only the fraud avoidance capabilities when evaluating and implementing fraud prevention technologies. Often overlooked is the potentially significant adverse impact on customers' experience and operational costs. Good fraud prevention solutions must be effective at identifying and...
U.S. banks stopped $9 out of every $10 of attempted deposit account fraud in 2012, according to a new ABA Fraud Survey Report. What are they doing right, and how must they improve fraud prevention in 2014?
Modern financial malware like Zeus or Citadel can empty bank accounts in seconds. Through 2014, this widespread threat will continue to grow unabated.
This paper discusses two of the primary mitigation vectors that can be used against powerful financial malware, including:
Backend protection and specialized...
The financial services industry is not collaborating effectively to address online payment risks, says Scott Dueweke of Booz Allen Hamilton, who offers insights on effective fraud-fighting steps.
Mobile devices - smartphones and tablets - are powerful computers that are increasingly used for commerce and financial transactions. Consumers will spend $235 billion through mobile transactions, making mobile devices a very lucrative channel and the next frontier for cybercriminals to exploit.
The threats against...
As a leading provider of financial services to agribusinesses, Rabobank Australia and New Zealand has many rural customers. Internet banking is an important service for customers that are located far from bank branches.
To address customer concerns while mitigating the potential risks, the bank needed ways to protect...
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.com, you agree to our use of cookies.
