Following the government's recent demonetisation initiative, the RBI has announced removal of its two-factor authentication requirement for low-value card-not-present transactions. But some critics fear the move, designed as a catalyst for cashless transactions, could lead to an increase in fraud.
Coming soon to an internet service provider near you: routers infected by IoT device botnet-building malware such as Mirai. The latest victim is ISP TalkTalk, which is updating routers to block DDoS attackers who have been seizing control of the devices.
As fraudsters continually refine their techniques to steal banking customers' credentials, IBM fights back with new tools that use behavioral biometrics and cognitive fraud detection. IBM's Brooke Satti Charles offers a preview.
The Internet Archive, a pioneering 20-petabyte digital repository, is raising funds to replicate its data in Canada. The group's founder fears that the election of Donald Trump as the next U.S. president portends an uncertain privacy rights future.
Last month, the FFIEC issued an FAQ about its Cybersecurity Assessment Tool, reiterating that use of the tool is voluntary. But some critics say regulators are still questioning institutions about their use of the tool during IT examinations, meaning its use is not truly voluntary.
The success of Operation SAMBRE, a global cybercrime investigation into the theft of billions of dollars from banks throughout the world, proves why information sharing between law enforcement and the private sector is key to battling cybercrime.
Will the advent of faster payments in the U.S. open new doors for fraud? Business continuity and security are priorities for the Federal Reserve, says Marianne Crowe of the Boston Fed. But independent consultant Richard Party begs the question: Is the U.S. really ready?
Russian hackers may think twice before traveling outside the country for a vacation in light of the arrest of alleged 2012 LinkedIn hacker "Yevgeniy N." by Czech police at a restaurant in Prague earlier this month.
Virtually every industry is prone to cyberattacks, online fraud and identity theft. For years' banks have secured online transactions for commercial accounts and private banking customers via multifactor authentication. Now through organizations like the NCSA and HIMSS, multifactor authentication may finally become...
In January, banks and other financial services companies based in New York may have to comply with tough new cybersecurity requirements. But some critics contend that the state's regulatory proposal is far too prescriptive, making it challenging for banking institutions, especially smaller ones, to comply.
Information security weaknesses that a watchdog agency found at the FDA are similar to those found at many healthcare organizations, some security experts say. But the FDA should be held to an even higher standard than the organizations that implement FDA-regulated drugs and devices, they argue.