Nearly five months after an appellate judge urged an out-of-court resolution, People's United Bank and PATCO Construction have reached a financial settlement in their dispute over wire fraud losses.
The future of security in payments remains unclear, says Nicolas Vedrenne of the Merchant Risk Council. But international collaboration will be critical, especially as infrastructures merge.
If President Obama's second term were a movie sequel, I'd call it "Unfinished Business." It's time to step up and see through the cybersecurity initiatives Obama spoke about when he first took office.
Labeling it "a very close call," a U.S. district court has rejected a Mississippi bank's bid to have a former customer held liable for losses, damages and legal costs in an ACH and wire fraud case.
More malware attacks fueled by Citadel and Reveton are getting attention from federal authorities, which say banking institutions and consumers should be on high alert. What can institutions do to mitigate emerging malware risks?
High Roller malware attacks are the latest potential threats that point toward the need for layered security controls. What advice do banking/security leaders offer for responding to these attacks?
How well do U.S. financial institutions conform to the FFIEC Authentication Guidance? One regulatory agency discusses the state of conformance and what its examiners have learned from institutions.
The so-called High Roller cyberattack uses automation to drain high-value bank accounts. What can institutions do to protect customers? Chris Silveira of Guardian Analytics offers advice.
Financial losses linked to ACH/wire fraud are down, but attacks are increasing. What contributes to that decline in losses, and where can banking institutions still improve their online fraud prevention?
A Mississippi bank is taking legal action against a former commercial customer, claiming the customer is liable for losses and damages linked to a suit over ACH/wire fraud.
Don't be too quick to write off the PATCO court ruling as a victory for banking customers in the debate over ACH/wire fraud liability. The reversal could actually be a win for banks.
The First Circuit Court of Appeals ruling offers a fascinating look at exactly which security controls Ocean Bank, now People's United Bank, did - and did not - offer to customers such as PATCO.
The Zeus Trojan is frightening because of its agility, evolution and success at stealing banking credentials. How can institutions fight back? Malware expert Andreas Baumhof offers new ideas.
A U.S. appeals court reversed a lower court's ruling in the ACH/wire fraud dispute between PATCO Construction Inc. and the former Ocean Bank, now People's United. What is next in this high-profile case?
A lingering legal dispute over a corporate account takeover incident at escrow company Village View has finally come to a close. Find out more about the details of the case and the settlement.
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