In the wake of recent SWIFT-related interbank payment heists, more banks are monitoring transactions for anomalous behavior in an attempt to catch fraud in real time, says Andrew Davies, a fraud prevention expert at core banking services provider Fiserv.
A Senate bill proposes removing Social Security numbers of U.S. veterans from all Department of Veterans Affairs' information systems within the next five years to help reduce identity theft and fraud. How difficult would it be to make the change?
The FBI is warning U.S. businesses to beware of business email compromise scams focused not just on creating fraudulent wire transfers, but also stealing personally identifiable information. Experts, however, are criticizing the FBI's alert as being too little, too late.
With rampant password, patch management and data missteps, it can feel like information security déjà vu all over again as security professionals fight so many of the same battles as 10 or 20 years ago, says white hat hacker Cris Thomas, a.k.a. "Space Rogue."
Dropbox is keeping a close eye on the latest news reports of big-name, big-data breaches, but says the reported hackers are bluffing when claiming to have compromised and obtained the web storage service's data.
Now that both the FBI and the FFIEC have issued alerts calling attention to the risks associated with interbank messaging and wholesale payments in the wake of SWIFT-related heists, U.S. institutions should brace for more regulatory scrutiny of bank-to-bank payments, financial fraud experts say.
Asking how many different technologies consumers will tolerate when it comes to paying for their goods and services is a bit like asking how many more superheroes moviegoers will countenance in the latest "Avengers" film.
With hack attacks continuing against banks, SWIFT must follow in the footsteps of other vendors - notably Microsoft - and begin offering detailed, prescriptive security guidance to its users, says Doug Gourlay of Skyport Systems.
Many financial institutions struggle with implementing effective multifactor authentication solutions. They may lack confidence in new methods or grapple with the difficulty of integrating newer technologies with legacy investments. So, what technologies and processes need to be in place to ensure MFA's adoption...
Russian email service Mail.Ru says its users' credentials contained in data leaked to Hold Security are 99.982 percent invalid, leading it to slam the security firm for stoking "media hype." But Hold Security's CISO contends the leak contains valid email addresses that could be used for phishing and spam.
A security firm claims to have obtained from a young Russian hacker a data set that includes 272 million unique credentials for Hotmail, Gmail and Yahoo email addresses, among others. But there's no reason to panic, security experts say.
The section chief of the FBI's Cyber Division says "the FBI does not condone payment of ransom," in part because it enables criminals to victimize others. Instead, the bureau continues to urge all potential victims to get their IT house in order.
Five new payment card data security requirements for third-party service providers are among the most significant changes included in version 3.2 of the PCI Data Security Standard released April 28, says Troy Leach of the PCI Security Standards Council.