Secret Service Agent Todd Bagby says cash-advance schemes are easy to fight, if banks follow best practices and in-house guidelines. "Banks should just follow their own protocol and use their own contacts to identify the person on the other end of the line."
The Department of Homeland Security works with RSA to investigate the sophisticated attack aimed at RSA SecurID two-factor authentication products, and card fraud linked to pay-at-the-pump gas terminals in Arizona tourist spots is on the rise.
Bank of America branches in Greater Detroit were reportedly flooded this past weekend, after several BofA debit cardholders noticed fraudulent transactions on their accounts. A BofA spokesperson says "There was no breach at Bank of America."
This kind of problem happens to everybody, says Marcus Ranum, CSO of Tenable Network Security, in response to the widely publicized breach at RSA. And maybe hes right. Perhaps this kind of problem does happen to everyone. But should it?
International Airline Employees Federal Credit Union of Briarwood, N.Y., reported earlier this month that suspicious transactions from toll booths in France have been hitting the institution's Visa cards.
Fraud, risk management emerging technologies -- these issues know no boundaries. That's why we're launching a series of new international BankInfoSecurity sites to draw proper attention to local issues that impact the global banking industry.
Emerging technologies, application vulnerabilities and regulatory compliance force organizations to bridge the development and security silos and find avenues for interdisciplinary cooperation to produce secure software.
Global banking institutions can learn from Japan's disaster planning and response. And a sophisticated cyberattack is launched against RSA, targeting the security unit of EMC's SecurID two-factor authentication products.
When the business demands the latest tools and technologies, saying "no" is not a viable option. "Clearly, these are disruptive things, but they also are extremely valuable," says Simon Godfrey, Director, Security Solutions at CA Technologies UK.