Phishing schemes that aim to gather credit and debit details are on the rise. The American Bankers Association offers tips on exactly what you should tell your employees and customers about the latest scams.
The Durbin Amendment to the Dodd-Frank Act brought enormous change to the payments industry. But within this change comes a whole new value proposition for the PIN debit network - and for institutions' efforts to fight fraud.
The U.S. explosion in card skimming will be the ultimate catalyst for change from mag stripe to chip and PIN technology. "I do believe that shift has begun," says SVB's Pradeep Moudgal. "Everyone wants to be in a much more secure environment."
Pradeep Moudgal of California-based SVB says the bank's decision in June to migrate commercial credit cards over to EMV was easy. "The biggest advantage of the chip card, at the end of the day, is to reduce fraud," he says.
Many organizations have the expertise required to implement cyber intelligence but have yet to learn how to integrate those skill sets into an effective, end-to-end process, says Intelligence and National Security Alliance's Terry Roberts.
Roger Baker, CIO at the VA, says desktop computers will eventually phase out, as mobile devices become predominant channels for communication and work. That evolution has made plans for ongoing mobile security a priority for organizations that cross every business sector.
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?
Chief Risk Officer is one of the emerging roles in global business. But what does it take to succeed? "You have to go through the school of hard knocks -- have experience and have made mistakes along the way," says Kevin Blakely, CRO at Huntington Bank.