What struggles do smaller financial institutions face when it comes to implementing anomaly detection practices and procedures? Former federal banking examiner Amy McHugh offers insight.
Former federal banking examiner Amy McHugh says detailed risk assessments have to be a priority. And recent legal decisions and settlements in disputes involving corporate account takeover prove why.
Preliminary results of the 2013 Faces of Fraud Survey show institutions are still suffering big financial losses linked to ACH and wire fraud. Why are they still getting hit, in spite of investments to detect and prevent account takeover?
Hacktivists may have halted their attacks, but DDoS strikes against U.S. banks continue. Download-flooding attacks that took aim at two banks last week demonstrate the need for continued vigilance.
Reports of account takeover incidents have increased in the last 18 months, yet losses have remained steady, says former federal banking examiner Amy McHugh, who analyzes what security measures are working and what still needs to be done.
A new precedent in ACH and wire fraud liability could be set if Choice Escrow is successful in its appeal to have a lower court's ruling overturned. Legal experts explain why this could prove to be the new benchmark.
Advanced threats and mobile security were the buzzwords of the Gartner Security & Risk Management Summit. What new insights did thought-leaders share, and how can they reshape our security posture?
Former federal banking examiner Amy McHugh says banks can learn a lot from recent legal decisions and settlements in account takeover cases, including which authentication and online-banking security investments they should make.
Future court rulings in ACH fraud cases may place more of an emphasis on the customer, not the bank, when it comes to liability, says cybersecurity attorney Joseph Burton.
A Missouri court's judgment in an ACH/wire fraud dispute between Choice Escrow and BancorpSouth reflects an evolution in how courts view fraud liability, says cybersecurity attorney Joseph Burton.
How are banking institutions reducing losses linked to account takeover incidents? Bill Nelson of the FS-ISAC describes new approaches institutions are taking to address this lingering fraud problem.
A new ruling in the Choice Escrow vs. BancorpSouth case finds that refusing fraud-prevention tools offered by banks can shift liability for fraud losses back on commercial customers. What does this ruling mean for other institutions?
Which fraud trends need the most attention from U.S. banking institutions in 2013? Distributed-denial-of-service attacks and account takeover, says FS-ISAC's Bill Nelson, who offers fraud-fighting tips.
What are the top account takeover threats to banking institutions in 2013? Ken Baylor of NSS Labs discusses Zeus variants, mobile malware and how institutions can protect themselves from fraudsters.
The PATCO Construction fraud settlement still leaves open the question of what responsibilities commercial customers bear when a bank's security procedures are deemed commercially unreasonable.
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