Delayed enforcement of the "strong customer authentication" requirements for online transactions under the European Union's PSD2 regulation is hampering efforts to enhance security. That's why the European Banking Authority should act quickly to develop a new timeline.
Russian national Andrei Tyurin pleaded guilty to perpetrating massive hack attacks against leading U.S. financial services firms and others from 2012 to mid-2015. Victims included JPMorgan Chase, from which he stole details of 83 million customer accounts.
One of the main goals of PSD2 is to provide consumers with better service, both in terms of user experience and security. PSD2 was developed with consumers in mind. It is intended to enhance transparency and improve the customer experience while lowering costs through competition.
A global law enforcement operation has resulted in the arrest of 281 suspects allegedly involved in business email compromise scams. The announcement comes on the same day as the FBI's Internet Crime Complaint Center says that losses from BEC scams have hit $26 billion and are continuing to rise.
Cybercrime is surging thanks, in part, to the availability of inexpensive hacking tools and services. A recent look by security firm Armour at black market offerings finds stolen payment card data, RDP credentials, ransomware and DDoS services are widely available for sale.
Facebook and Twitter have suspended a number of accounts and pages that they have tied to information operations being run by the Chinese government. Disinformation has targeted pro-democracy demonstrators in Hong Kong - likening them to cockroaches - while dismissing anti-Beijing sentiment as "fake news."
If you're a provider of financial services, then client trust, privacy, and risk management are critical to your success. Therefore, you must protect your organization's sensitive data from cyber attacks and data breaches. A recent survey of current software security practices in the financial services industry...
If you're a provider of financial services, then client trust, privacy, and risk management are critical to your success. Therefore, you must protect your organization's sensitive data from cyber attacks and data breaches. A recent survey of current software security practices in the financial services industry...
A flood of new technology is racing toward the financial services industry - most notably, increased automation for internal processes to improve margins, as well as the development of new software to create a complete and seamless customer experience in traditional, online, and mobile banking.
FSI organizations...
Former Secret Service agent Jeff Dant now heads fraud operations and intelligence for the financial crimes unit at BMO Financial Group. Which threats and threat actors does he focus on, and how does his law enforcement experience help? Dant previews a session at the upcoming Cybersecurity Summit in New York.
The fast-evolving, sophisticated, and increasingly global threat of financial crime is one of banking's biggest challenges. To be truly future-proof, institutions must move faster than the criminals who seek to attack them - which makes one thing clear: The most successful and profitable banks of tomorrow will be...
Disruption continues to reshape the financial services industry. Time-proven products and services have been rendered obsolete in the blink of an eye, rewriting the banking landscape and leaving it scattered with new challenges.
Online banking and faster payments have been embraced by customers, but money launderers...
The EU Payment Services Directive (PSD2),
presents any business that processes online
payments or provides account related services
in the European Economic Area (EEA) with the
challenge of balancing the Strong Customer
Authentication (SCA) requirements with a seamless
buyer's journey.
To gain competitive...
Account takeover is the fastest growing fraud vector in retail banking. It's lucrative. It's a service you never want to provide.
Motivated fraudsters attack from every angle, limiting the effectiveness of the best one-dimensional defenses.
iovation offers the most secure, seamless, and comprehensive solution....
The cause of Capital One's breach is known. But experts say the incident still raises questions over why Capital One held onto personal data so long and if the bank was adequately monitoring administrator accounts.
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