A warning issued this week by the OCC about a fake banking website highlights the need for stronger domain-naming practices, especially in the financial space.
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.
Banks, government agencies and healthcare providers have upped their efforts to assist consumers after an ID theft incident. But much more needs to be done. One ID-theft recovery expert shares her thoughts about areas in need of improvement.
Analog skimming devices that rely on audio technology are not new. They've been around since the early 1990s. But this less-expensive technology is making a comeback, some say, because of the downturn in the global economy.
Pradeep Moudgal says the U.S. is migrating toward EMV. But how much new investment are card issuers going to have to make, and what steps does the collective industry need to take to ensure the transition from the mag-stripe to the chip is a smooth one?
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.
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.
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.
U.S. and Estonian authorities have broken up one of the largest Internet crime schemes that allegedly netted $14 million in fraudulent advertising fees and infected 4 million computers in 100 countries.
The payments system is broken, opening consumers, financial institutions and retailers to endless incidents of card fraud. So, what can be done? Gray Taylor has some suggestions.
ATM skimming is a huge fraud concern for banks and credit unions. But M&T Bank says it has developed an effective anti-skimming solution - and it wants to share this product with other institutions.
IT security practitioners should understand why the bits, bytes and network connections - the technologies - are important to their organization's goals. Ignorance of the mission, for IT security folks, isn't bliss.
As two recent fraud incidents prove, good work can be done when card issuers and retailers work in tandem. I hope we see more of that kind of collaboration going forward.
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