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.
U.S. banks stopped $9 out of every $10 of attempted deposit account fraud in 2012, according to a new ABA Fraud Survey Report. What are they doing right, and how must they improve fraud prevention in 2014?
Receiving a notification letter about a data breach brings home the reality of just how common these incidents are - and how much prevention work, including encryption, still needs to be done.
Call center fraud is one of the leading threats that financial institutions will battle next year because fraudsters consider the centers to be an easy target. But what can be done to mitigate this threat?
A new takeover scam that the FBI calls a "man-in-the-e-mail" attack has drained $1.65 million from three Seattle-area businesses' accounts. Learn what steps to take to avoid becoming the next victim.
Financial institutions and businesses in other sectors must continually collect information about their online customers to ensure stronger authentication, says Avivah Litan, a fraud expert and analyst for the consultancy Gartner.
One key provision of Article 4A of the Uniform Commercial Code, which deals with reasonable security measures for banks, needs to be dropped, contends attorney Dan Mitchell, who represented PATCO Construction in an account takeover dispute.
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