The Federal Reserve on Jan. 26 revealed its roadmap for an overhaul of the U.S. payments system, which includes plans for faster settlement and a focus on improving payments security to reduce fraud.
The response by Sony Pictures Entertainment executives to the hack attack against their company provides a number of great examples for how to not to handle a data breach. Here are 7 key mistakes they made.
Recalling an up to 10-day delay in Homeland Security helping other agencies cope with the Heartbleed vulnerability, DHS's Phyllis Schneck champions FISMA reform legislation that would codify the department's role as guardian of civilian agency IT.
After a long legal battle, Choice Escrow and Land Title LLC and Mississippi-based BancorpSouth have finally settled a $440,000 account takeover case. Learn how one final issue was resolved.
A Tennessee utility has sued its bank after a $327,000 account takeover incident. This new case shows why institutions must go above and beyond when it comes to detecting and thwarting fraud losses.
For the first time in its decade-long history, the Federal Reserve's triennial Payments Study includes fraud data. The Fed's Jim McKee says these findings set a baseline about U.S. card fraud trends.
A new impersonation scheme is taking aim at business executives to perpetuate ACH and wire fraud, says Bank of the West's David Pollino, who explains steps institutions should take now to protect their customers.
Choice Escrow is seeking a bench review of a recent appellate court ruling, which favored its former bank in an ACH fraud dispute. The firm argues the court set a bad precedent for future disputes by limiting Uniform Commercial Code protections.
FFIEC guidance and case law are helping banks define what constitutes "reasonable security." In a panel discussion, three experts debate the long-term impact of two recent account takeover fraud cases.
A bank's $350,000 settlement with a California oil company should serve as a reminder that reasonable security measures offered by banks are increasingly critical to the outcome of account takeover disputes.
An appellate court ruling in favor of a bank in a dispute over account takeover losses dating back to 2010 has broad implications for financial institutions. Legal experts analyze the case.
Two suits against California's First Foundation Bank raise a number of questions about how to define reasonable security and how banks are expected to react when suspicious account activity occurs.
A review of the RSA 2014 agenda shows several seminars, panels and speakers of particular interest to healthcare-focused attendees, including those focused on mobile device security and medical device hacks.
A lawsuit filed by a now-defunct escrow firm against a bank following a $1.5 million cyberheist will reopen debate over who's responsible when account takeovers lead to fraud.
We may never really know who or what is to blame for the Target breach that exposed as many as 40 million U.S. debit and credit cards, but there definitely is no shortage of theories from our readers.
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