First Midwest Bank has never suffered a loss because of ACH breach. The secret: never getting overly confident or too comfortable with one or two modes of protection.
The arrest of six international suspects is being touted as one of the biggest Internet crime takedowns in history. But how much of a deterrent will Operation Ghost Click be for other cybercriminals?
The best thing institutions like BofA could do right now is start focusing energy on community outreach and public relations, areas where credit unions and community banks are quickly building advantage.
Banks and credit unions need to evaluate risks and implement proper controls to mitigate threats in the online world. And that means investing in technology that meets enhanced authentication demands.
Mobile banking is a 'must-have' today, but the foray into this new financial-services arena comes with risk. Consistent review and implementation of security layers and controls is the only strategic way to tackle emerging mobile offers.
U.S. and Estonian authorities have broken up one of the largest Internet crime schemes that allegedly netted $14 million in fraudulent advertising fees and infected 4 million computers in 100 countries.
Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
Security concerns are the top barrier between consumers and mobile banking. Yet, only 17 percent of institutions have integrated consumer education into their mobile strategies. Javelin's Mary Monahan offers three tips to improve awareness.
The U.S. government is circulating a draft document of seven high-level categories detailing tasks, skills and job titles of IT security occupations that should help organizations to architect more effectively their staffs to safeguard data and systems.
The payments system is broken, opening consumers, financial institutions and retailers to endless incidents of card fraud. So, what can be done? Gray Taylor has some suggestions.
Sen. Charles Schumer is asking the Federal Trade Commission to look into a new practice in which credit agencies keep estimates of individuals' personal information such as medication use and personal income from consumers.
An estimated 650,000 customers have recently switched from big banks to community banks and credit unions. But are these smaller institutions prepared for the new demand for security and fraud prevention?
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