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.
The arrests of three Seattle-area men for their involvement in two separate ATM-skimming schemes highlight technological and social vulnerabilities that international fraudsters have learned to exploit with ease.
Three Seattle area men have been arrested for their alleged involvement in separate ATM skimming schemes that drained more than half a million dollars from retail customer accounts in at least six states.
"What banks need to be aware of is that much of this fraud is occurring on the consumer and business-customer side, and not all of them will invest in technology that catches these attacks," says Phil Blank of Javelin Strategy & Research.
In an ironic twist, a new phishing scheme, purporting to be from the Federal Deposit Insurance Corp., actually claims to offer assistance with ACH and wire fraud, but instead delivers malware that could enable fraud.
Doug Johnson of the ABA and FS-ISAC says banks and commercial customers are improving efforts to catch and thwart incidents of corporate account takeover, a sign that the industry is moving in a positive payments direction.
Many disaster-related attacks are personal and direct, perpetrated through a phone call. But some take traditional routes, such as e-mail, while more are taking emerging routes, like text messages to mobile devices.
A repentant SparkyBlaze wants to go legit, leaving behind the hacktivism he helped foster as a member of Anonymous and start a career in the U.S. as a ethical hacker. As proof, he's offering advice to protect IT from hackers.
IT systems operated by governments, hospitals, financial institutions and other businesses averted catastrophe, for the most part, as Hurricane and then Tropical Storm Irene stormed through the Eastern seaboard over the weekend.