Despite upticks in account takeover fraud, small business owners still aren't doing enough to enhance their ACH and wire fraud defenses, say Michelle Di Gangi and David Pollino of Bank of the West.
A recent ATM skimming scheme linked to the theft of hundreds of thousands of dollars is an indicator of a coming surge in this type of fraud, experts say. Learn about the causes of this trend.
Reliable statistics to track trends in cybersecurity employment are scarce. But the available numbers offer some insights, including the relative strength of the IT security workforce.
Using "synthetic identities" to commit fraud is becoming easier, but it's increasingly difficult for organizations to detect this type of deception, says Claudel Chery of the U.S. Postal Inspection Service.
An insurer has dropped its lawsuit aimed at avoiding covering damages suffered in the Schnucks retail breach. But attorney Dan Mitchell says this case shows why more companies need cyber-insurance.
Our inaugural Fraud Summit on Oct. 22 at the Meadowlands in New Jersey will feature an impressive lineup of information security leaders offering timely insights about practical risk mitigation strategies.
A low-tech card fraud scheme, which involves covering merchants' satellite dishes with aluminum foil, proves blocking payment transmissions can be just as damaging as intercepting them.
Although skimming attacks are still the greatest ATM fraud concern, experts warn that a new malware strain that targeted ATMs in Mexico may signal a shift and raises questions about software and operating system vulnerabilities.
Banking institutions and merchants are fighting back against cyber-attacks by sharing information and assisting law enforcement investigations, says Julie Conroy of Aite, which has issued a report about account takeover and cyberfraud trends.
Vermont's $30,000 settlement with a breached retailer proves states can play an important role in holding retailers more accountable for losses associated with card fraud, and issuers should take notice, one banker says.
A new Ponemon Institute study shows the average annual cost of cybercrime for 60 major U.S. companies rose 26 percent this year. Find out some of the factors contributing to the rising cost.
The United States should be prepared for a dramatic increase in card-not-present fraud as cards using the EMV standard are widely deployed, says card fraud prevention expert Julie Conroy of Aite, who describes the reasons why.
In the wake of an ongoing stream of merchant and payment processing breaches, the FDIC is reminding smaller banking institutions that they are ultimately responsible for ensuring the security of cardholder data.
Consumers have been poorly educated about payments fraud prevention, and the introduction of EMV to the United States will likely spur even more confusion, says Aite analyst Shirley Inscoe.
Mitigating card risks associated with retail malware attacks and POS vulnerabilities is a focus of updates to the PCI Data Security Standard, say Bob Russo and Troy Leach of the PCI Security Standards Council.
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