ThreatMetrix's Taussig says device identification must be part of layered security measures. Banking regulators want financial institutions to deploy multiple layers of online security. But what does that expectation mean when it comes to investments in fraud detection?
Bankers aren't waiting for the FFIEC to act on the release of its updated online authentication. Instead, they've already begun to comply with the major points recommended in the draft. And the death of Osama bin Laden has heightened concerns terrorists' efforts to launder money through legitimate banking channels.
Gigi Hyland of the NCUA says the latest draft of online authentication guidance is awaiting final signoff from just one FFIEC member agency. And Verizon's new data breach report finds that compromised records resulting from data breaches dropped dramatically in 2010, but the number of breaches continues to grow.
Gigi Hyland of the NCUA says the latest draft of online authentication guidance is awaiting final signoff from just one FFIEC member agency. And Verizon's new data breach report finds that compromised records resulting from data breaches dropped dramatically in 2010, but the number of breaches continues to grow.
Most small businesses don't understand online fraud risks, but greater communication between banks and commercial customers plays a key role in fraud deterrence and customer-relationship health.
It's been over three months since the accidental disclosure. When will the final FFIEC authentication update be released? "I don't think we're any less safe," says Gartner's Avivah Litan. "We just need to step up enforcements."
Gigi Hyland, board member of the National Credit Union Administration, says the latest draft of authentication guidance is awaiting final signoff from just one member agency of the Federal Financial Institutions Examination Council.
New authentication guidance, when it is passed down federal banking regulators, needs to pay more attention to mobile, says former Bank of America executive David Shroyer.
Ben Knieff, who oversees fraud prevention strategy for NICE Actimize, says most small businesses don't understand online fraud risks, but they are willing to work with banks to mitigate losses.
RSA executives haven't been commenting publicly since the security solutions vendor revealed last week it had been victimized by a sophisticated cyberattack aimed at its SecurID two-factor authentication product. But weeks before the hack, I spoke with RSA Chief Technology Officer Bret Hartman about advanced...
Fraud, risk management emerging technologies -- these issues know no boundaries. That's why we're launching a series of new international BankInfoSecurity sites to draw proper attention to local issues that impact the global banking industry.
Pay-at-the-pump card skimming is back, just in time for spring break; and Editorial Director Tom Field shares thoughts from Phoenix about BAI's recent Payments Connect conference.
Pay-at-the-pump card skimming is back, just in time for spring break; and Editorial Director Tom Field shares thoughts from Phoenix about BAI's recent Payments Connect conference.
Banking/security leaders aren't crazy about banking regulators telling them they could have done a better job detecting ACH fraud, and they're eager for more specific guidance on what to do going forward.
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