The economy is down, phishing is up, and banking customers are increasingly targeted by multi-channel fraud schemes. Now, more than ever, customer awareness efforts are key for banking/security professionals.
Identity theft rose by nearly 25 percent last year in the United States, according to a new report released today. The 2009 Identity Fraud Survey Report by Javelin Strategy & Research shows that the number of identity fraud victims increased 22 percent to 9.9 million people being hit, at a total cost of $48 billion.
The number of identity fraud victims has increased 22 percent in the U.S., costing 9.9 million victims a total of $48 billion in 2008.
This is the news from the fifth annual Identity Fraud Survey Report from Javelin Strategy & Research. In an exclusive interview, James Van Dyke, Javelin founder and President,...
You can't get away from this story.
Since we first broke the news about the Heartland Payment Systems (HPY) data breach back on Jan. 21, this story has just dominated conversation in and about our industry.
On our site, the latest news updates and have proven enormously popular.
Financial institutions are being warned that they may be getting phishing emails that appear to come from the Federal Reserve Bank. The FDIC issued a special alert on Thursday warning of fraudulent emails allegedly coming from the Fed. The email claims that a phishing attack has affected the Fedwire system and that...
It was only a question of time before one of the regulators stepped forward to tell its banking institutions to monitor the use of their federal funds. The FDIC this week drew its own line in the sand when it comes to monitoring how the bailout money will be accounted for at its banks.
I'm experiencing the New Year's phenomenon. That's what I call the very early part of each year when I struggle writing the correct date on things like checks, forms and the many other documents that require it.
Stupid robbery attempts are always funny, but when they happen in your backyard, well, they're even funnier.
A few weeks back, near my home in New Hampshire, a would-be robber held up a local Citizens Bank branch, and he attempted to get away with an undisclosed amount of cash.
From Bear Stearns to IndyMac, Eliot Spitzer to Bernard Madoff, AIG to WaMu, BCP to TARP...2008 has been an historic year for banking institutions. And everybody from regulatory examiners to practitioners and service providers looks forward to closing the books on the old year and ringing in the new.
As we head into...
Getting people on the phone this time of year can be quite a challenge. Between getting ready for the holidays, celebrating the holidays and trying to wrap up everything outstanding before year end there's simply a shortage of available time. And so as we work on building out the project schedule for the first...
Wow - we've been part of quite a bit of quick decision-making recently. Financial institutions going out of business almost overnight, trillions of dollars being offered from the U.S. government in the blink of an eye, and the largest in the industry merging with and/or acquiring peer institutions within weeks.
The federal banking regulatory agencies have issued a revised brochure, "You Have the Power to Stop Identity Theft," which is designed to help consumers prevent and resolve identity theft-related crimes.
The Identity Theft Resource Center in San Diego has made some dire predictions for businesses and consumers to ponder for next year.
Here's a list of some of the things that ITRC sees as causing the most problems in the identity theft arena. Some are already hitting financial institutions and their customers.
Check fraud. Crimes against children and the elderly. These are among the current faces of Identity Theft, and experts expect to see even more of these opportunistic crimes in 2009.
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