How much crossover should banking institutions rely upon as they evaluate authentication standards for retail vs. commercial accounts? Online security expert Christopher Beier offers insights.
A hacker anywhere in the world could easily track the whereabouts and file-sharing habits of a Skype user and use the information for purposes of stalking, blackmail or fraud.
Four banks were closed on Fri., Oct. 21, by state and federal banking regulators. These latest failures bring the year's tally to 102 failed banking institutions.
Wells Fargo says a printer malfunction caused a bank statement mix-up that resulted in the exposure of bank account details for what could turn out to be thousands of bank customers.
Links between card-skimming attacks and ID theft are getting notice from U.S. federal prosecutors. But are the sentences being passed down from the courts strong enough to deter fraudsters?
Global events, especially those involving the deaths of politically exposed individuals, have significant impacts on individual banking institutions and the global financial infrastructure.
What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
Mark Weatherford, who also served as Colorado's chief security officer, will start work in mid-November in the new post, which absorbs responsibilities previously performed by Phillip Reitinger, now Sony's CISO.
In the wake of Libyan ruler Moammar Gadhafi's death, U.S. banking institutions are on heightened alert for money-laundering and terrorist financing linked to Libya and other parts of Northern Africa.
Banking institutions have a role to play: They must provide more customer education about the lures fraudsters use to compromise bank accounts and, ultimately, identities.
"If the rate is not increased, it won't be good for the industry. It will put a damper on the spending for anti-fraud technologies," says Steve Kenneally of the American Bankers Association.
Criminals manipulate an ATM so that the cash requested is blocked or trapped. Once the user gives up and leaves the ATM, the fraudsters come in and remove the cash. So, how can banks prevent this scam?
Facial recognition, arguably, is the technology that most threatens individual privacy online, and that's on the mind of Senate Commerce Committee Chairman Jay Rockefeller, who has asked the FTC to report on its growing use.
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