"You can do everything, but if you forget to change the keylocks on your dispensers, then you can be breached," says Gray Taylor, security expert at the National Association of Convenience Stores.
When it comes to social media, organizations have to be vigilant and consistent with risk assessments that closely monitor and evaluate emerging threats, says Andrew Kennedy of BITS.
Looking at the international stock market crash and the impact it's likely to have on future investments in fraud detection and prevention, how much can banks and credit unions reasonably afford, when economic stability is shaky and the financial future uncertain?
"The timing and the targets point to China," says cybersecurity policy expert James Lewis. "Spying right before the Beijing Olympics and focusing on Southeast Asia reflects China's larger interests more than those of any other country."
United Nations Federal Credit Union says member satisfaction and acceptance of the chip card have been contagious, since the bank launched the chip option last summer. The chip-card portfolio has proven to be the credit union's most successful.
"We're continually testing our controls and the effectiveness of our controls. We do a lot of emerging-threats monitoring ... so we can react," says First Niagara's Joe Rogalski.
Debit fraud in the U.S. continues to grow as transaction volume increases. As international markets move away from mag-stripe and toward chip & PIN technology, fraud experts say U.S. card issuers can expect to see fraud continue to escalate.
A California judge handed down a 12-year prison sentence to a phisher who stole financial details from more than 38,000 online accountholders. Observers say the sentence signals a changing attitude about the severity of cybercrimes.
Corporate account takeover events are reigniting the debate between banks and their former commercial customers, about everything from fraud liability and the "good faith" standard to commercially reasonable security.
In the wake of natural disasters or global political unrest, financial institutions of all sizes must be mindful of international fraud schemes and suspicious activity, says EastNets' Paul Buelens.
The fight against cyberattacks is a top priority for financial institutions, and industry insiders are optimistic about President Obama's plan to thwart cyberattacks that lead to corporate account takeover and other forms of fraud.
The Fed's ruling on interchange, mandated by the Durbin amendment, offers financial incentives for fraud-prevention investments and could fuel a U.S. move toward new card-payment technologies, like EMV.
Some 200 people have reported fraudulent debit and credit transactions hitting their accounts after dining at Margarita's Mexican Restaurant in Texas. Investigators believe a third-party vendor may have been hacked.
You know the tune: Cyber thieves pirated the town's banking credentials, arranged some bogus "payroll transactions" with the town's bank and then next thing you know ... money mules are transferring funds to the Ukraine.
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