BankInfoSecurity.com Week In Review for February 4, 2011
- ACH Fraud: Bank Speaks Out. Financial institutions are anxious to see ACH breaches go away, and most are not willing to talk about the breaches they've suffered. But one community bank says it's ready to share its ACH fraud story, which occurred in 2009, in an effort to educate other banking institutions how to prevent corporate account takeover;
- New Study: Compliance Saves Money. The study, conducted by Ponemon and commissioned by Tripwire, shows that companies that regularly review and maintain compliance with leading industry security standards save three times more annually than companies that fall out of compliance; and
- EMI, Comerica Await Verdict. Comerica and EMI went to trial last month - marking the first legal dispute over corporate account takeover to actually hit a courtroom. The crux of the trial: determining who is responsible for the takeover of EMI's online bank account.