Tom Oscherwitz says consumers put themselves at risk by giving out too much personal information that is often used for online banking log-in credentials.
Visa says a move toward EMV can help merchants cut PCI compliance costs, and SWIFT says globalization, regulation and the introduction of new services from non-financial providers will set the tone for payments 2011.
Consumer fraud trends suggest banking institutions will lead the fight against ID fraud, and international regulators are taking closer looks cross-border payments and money laundering.
What if, while searching the Internet, you come across a Facebook profile of one of your employees, including inappropriate pictures and personal remarks on the supervisor? What does this mean to you as an employer? And what can you do about it?
"I'm not sure there is a way to protect a customer if their actions put their network at risk," says the president of a bank victimized by corporate account takeover.
One community bank shares its side of the corporate account takeover story, and a new survey finds that security compliance reduces long-term expenses.
Cyberthreats stem from the malware, but monetary losses stem from money mules. I've decided to coin a new term: eFraud. I cannot think of a better way to describe the wave of fraud incidents the financial industry is facing. It's electronic.
NACHA's CEO says ACH-related fraud is often over-hyped, and occurs far less often than check- and payment card-related fraud. But when corporate accounts are breached, fraudulent ACH transactions lead to big financial losses.
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