From 2010: When he first learned of the full magnitude of the Heartland Payment Systems data breach, Heartland CEO Bob Carr had one overriding thought: "Can we survive this?"
The Paul Allen card breach reiterates a concern financial fraud experts have been screaming about for years: Socially-engineered schemes that compromise employees. So, what can institutions do about them?
Payment card fraud remains a top concern for banks and credit unions. And Randy Vanderhoof, executive director of the Smart Card Alliance, says mobility can help address fraud incidents and losses.
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.
EMV is coming to the U.S., and card brands are now leading the charge. The sooner card issuers, acquirers and merchants initiate EMV migrations, the better, says Stephanie Ericksen of Visa.
What do the latest international fraud arrests prove? "Organized crime isn't running, but they are definitely looking over their shoulders," says Robert Siciliano, a financial security expert.
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...
What emerging security challenges will new mobile devices and platforms pose for banks and credit unions? Brian Pearce and Amy Johnson shed light on Wells Fargo's approach to unique retail and commercial risks.
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...
Increased use of mobile devices and social networking sites is feeding ID theft and fraud. What is the risky behavior that is to blame for the rise in ID fraud? A new study sheds light.
The proliferation of mobile banking raises new security challenges. What emerging risks do banking institutions face as they roll out mobile platforms? Julie McNelley of Aite offers insight.
Skimming is a problem, but it's not the top card fraud scheme. Which incidents does the U.S. Secret Service see most often striking networks and POS systems? One agent shares his insights.
Incidents of card data exposure, such as Citibank's recent online breach, get regulators' attention. And sources say banking examiners are increasingly asking tougher questions about the protection of consumer data.
The FBI says Bulgarian fraudster Dimitar Dimitrov led ATM skimming rings that ranged from New York to Las Vegas, and now a federal judge has sentenced him to prison. Is the sentence appropriate?
Losses linked to debit fraud are increasing, says Jane Yao of the American Bankers Association, and the industry is in a perpetual state of catch-up. A new study tells how institutions can fight back.
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