As banks and credit unions assess online risk, in light of the updated guidance from the FFIEC, financial fraud analyst Tom Wills says they should consider mobile as a viable layer for out-of-band authentication.
The National Credit Union Administration shares some thoughts about emerging online security threats - threats it expects credit unions to address as they work to comply with the updated online authentication guidance issued by Federal Financial Institutions Examination Council.
This $38 billion bank has invested a great deal of time and effort into its online security program, continuously conducting risk assessments and making strides to ensure commercial customers stay informed about evolving online-banking risks.
Australian authorities this week said two more arrests have been in connection with an international POS skimming scheme that targeted merchants in the United Kingdom, mainland Europe and North America. So far, 27 people have been charged.
Debit fraud and skimming are growing problems, and they're why California-based Fremont Bank is switching from mag-stripe to chip-based debit cards, says Chris Olson, the bank's chief operating and enterprise risk officer.
A months-long investigation led Australian investigators to more than 50 stolen POS terminals, dozens of card skimmers and more than 18,000 blank and counterfeit cards. So far, 25 people have been arrested and charged for their parts in the alleged scheme.
Eduardo Perez says, simply, the "time was right" for Visa's introduction of chip-based payments incentives for U.S. merchants. Visa's new mobile-to-EMV program offers PCI-audit-compliance waivers to qualified merchants who implement dual-interface contact and contactless acceptance.
Adoption of chip technology will not only help the U.S. payments infrastructure prepare for expected acceleration in mobile-based payments, Visa says, but will improve transaction security by providing dynamic authentication.
With the extension of ENISA's mandate into 2013 by the European Parliament & Council, the agency can continue to educate and collaborate with other nations on cybersecurity issues, an area of constant importance.
Though IT business application functions and security-focused practices are expected to be integrated as a single process, secure configuration is the management and control of configurations for information systems to enable security and facilitate the management of information security risk.