Are banks and credit unions focusing too much attention on authentication and not enough on layered security? In their efforts to conform to the FFIEC's updated Authentication Guidance, they could be missing the fraud-prevention mark.
The Jet Propulsion Laboratory treats non-sensitive data as if they were sensitive when piloting cloud services to help identify potential vulnerabilities. "It is a way of moving forward: walk, crawl, run," JPL's Tomas Soderstrom says. "It's a journey."
How will Diane Ness and BITS help banks reduce fraud? As the new head of fraud-reduction programs for the technology division of the Financial Services Roundtable, Ness says education and communication about emerging threats will be a priority.
A court has granted final approval of the settlement of a class action lawsuit against University of Hawaii stemming from five data breaches over a three-year period that affected nearly 96,000 individuals.
To expose security flaws in Iran's banking system, one hacker took an extreme step: He stole details on 3 million debit accounts. One fraud expert warns that similar hacktivist attacks are likely worldwide.