U.S. banking institutions have money to spend, but do they know where best to invest it? That's the question begged by the results of the 2012 Faces of Fraud Survey.
Following a year of high-profile fraud incidents, anti-fraud budgets have been fattened. Asked how their fraud resources will change in the coming year, 58% of respondents expect an increase.
Yet, in a year when U.S. banking institutions are expected to conform to the FFIEC Authentication Guidance, respondents also say:
- Only 11% have come into conformance since the update was issued;
- 29% don't fully understand the guidance's expectations;
- Just 12% foresee a significant reduction in online fraud as a result of the guidance.
So, where are institutions spending their money? This is the question answered and analyzed in our research report, 2012 Faces of Fraud Survey: Complying with the FFIEC Guidance. Download this report to learn more about:
- 2012's top fraud threats;
- How banking institutions plan to counter these threats;
- Top security investments to fight fraud and conform to the FFIEC Authentication Guidance.