Mobile banking and remote deposit services have fueled a resurgence in "sweetheart" bank fraud schemes. These attacks point to the need for better cross-channel fraud detection and customer education.
It's not quite the cyberwar many have envisioned, but the United States and China are tangled in a brawl that resembles, in some respects, a combination of a trade war and cyber-sniping.
Ransomware attacks are on the rise, and mobile banking applications are the newest targets. Security experts offer risk mitigation advice for banking institutions and their customers.
Financial Institutions already apply out-of-band security in many instances. The challenge is: How do we help protect payment cards when they are used at any number of online and brick-and-mortar retailers?
High-profile retail breaches, such as the one suffered by Target Corp., could spur more merchants to promote increased use of mobile payments to boost security, says Thad Peterson, a new analyst at Aite Group.
A multi-layered approach known as "context-aware security" is the most effective strategy for fighting both insider and external cyberthreats, says Gartner analyst Avivah Litan, who explains how this strategy works.
Marc West of Fiserv says banking institutions have two challenges when it comes to developing mobile-payments solutions - focusing on the product development and preparing for regulatory oversight.
As mobile banking adoption rapidly grows this year, financial institutions need to identify and fill security gaps, says Aite Group analyst Julie Conroy, a featured speaker at the May 14 Fraud Summit Chicago.
Third-party risks and the Fed's plans for emerging payments will be highlighted at ISMG's Fraud Summit Chicago on May 14. How banking institutions and retailers are expected to respond to new risks posed by external parties will be a focus for our keynote panel.
"Security as a business enabler" was the mantra echoing through the recently concluded 2014 Infosecurity Europe conference in London, a message that should have been heeded by top executives at retailer Target last year.
Trusted Identity is the end-goal, and mobile devices are the means to get there, says Dave Rockvam of Entrust. How are mobile devices being leveraged for security in the enterprise today?
Organizations across all industry sectors understand the importance of information security. But turning security awareness into meaningful action - that's the challenge that many midsized entities face, says Sophos' Nick Bray.
Scores of banking/security leaders gathered at the SF Fraud Summit to learn from the nation's leading experts on topics such as account takeover, big data analytics, insider risks and payment card fraud.
The recent Verizon Data Breach Investigation Report notes more than 16,000 incidents in the past year where sensitive information was unintentionally exposed. "Nearly every incident involves some element of human error," the report notes.
The fact that the U.S. federal government would, under some circumstances, exploit software vulnerabilities to attack cyber-adversaries didn't perturb a number of IT security providers attending the 2014 Infosecurity Europe conference in London.
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