The FFIEC Authentication Guidance has resulted in a cottage industry of anomaly detection solutions. But look carefully before you buy - separate myth from reality - says Terry Austin, CEO of Guardian Analytics.
Banks and credit unions are feverishly working to meet the FFIEC's authentication compliance deadline next year. But experts say institutions should be looking beyond the guidance, by making investments in cross-channel fraud detection.
First Midwest Bank has never suffered a loss because of ACH breach. The secret: never getting overly confident or too comfortable with one or two modes of protection.
Banks and credit unions need to evaluate risks and implement proper controls to mitigate threats in the online world. And that means investing in technology that meets enhanced authentication demands.
Mobile banking is a 'must-have' today, but the foray into this new financial-services arena comes with risk. Consistent review and implementation of security layers and controls is the only strategic way to tackle emerging mobile offers.
Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
Banking institutions are focused on preparing for 2012 and their first examinations on conformance with the FFIEC Authentication Guidance. But beyond the exams, what are the fraud trends they need to prepare to face?
A hacker anywhere in the world could easily track the whereabouts and file-sharing habits of a Skype user and use the information for purposes of stalking, blackmail or fraud.
How much crossover should banking institutions rely upon as they evaluate authentication standards for retail vs. commercial accounts? Online security expert Christopher Beier offers insights.
Global events, especially those involving the deaths of politically exposed individuals, have significant impacts on individual banking institutions and the global financial infrastructure.
The disruption of text messaging and Web browsing for BlackBerry customers opens up issues of company transparency and business continuity. How should the company have responded?
"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.
International communication and public-private partnerships are the keys to cybersecurity in the financial space, according to the Department of Homeland Security and the Financial Services - Information Sharing and Analysis Center.
Nessa Feddis of the ABA says increased investments in technology at the bank and consumer levels have fueled confidence in online banking. "I think the reason you see an uptick in use here is because the channel is more secure."
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.com, you agree to our use of cookies.
