Former federal banking examiner Amy McHugh says banks can learn a lot from recent legal decisions and settlements in account takeover cases, including which authentication and online-banking security investments they should make.
Future court rulings in ACH fraud cases may place more of an emphasis on the customer, not the bank, when it comes to liability, says cybersecurity attorney Joseph Burton.
A Missouri court's judgment in an ACH/wire fraud dispute between Choice Escrow and BancorpSouth reflects an evolution in how courts view fraud liability, says cybersecurity attorney Joseph Burton.
How are banking institutions reducing losses linked to account takeover incidents? Bill Nelson of the FS-ISAC describes new approaches institutions are taking to address this lingering fraud problem.
A new ruling in the Choice Escrow vs. BancorpSouth case finds that refusing fraud-prevention tools offered by banks can shift liability for fraud losses back on commercial customers. What does this ruling mean for other institutions?
Which fraud trends need the most attention from U.S. banking institutions in 2013? Distributed-denial-of-service attacks and account takeover, says FS-ISAC's Bill Nelson, who offers fraud-fighting tips.
What are the top account takeover threats to banking institutions in 2013? Ken Baylor of NSS Labs discusses Zeus variants, mobile malware and how institutions can protect themselves from fraudsters.
The PATCO Construction fraud settlement still leaves open the question of what responsibilities commercial customers bear when a bank's security procedures are deemed commercially unreasonable.
In a new alert, the OCC says banking institutions should be concerned about fraud attempts linked to recent distributed-denial-of-service attacks on prominent U.S. banks.
The PATCO fraud dispute could have been settled in 2009, says co-owner Mark Patterson. Why did the case drag on, and what can banking institutions and fraud victims learn from PATCO's recent settlement?
An insider fraud scheme at a financial institution highlights how executives with too much power can abuse the system. What steps could have been taken to prevent the losses that ultimately led to this institution's failure?
Nearly five months after an appellate judge urged an out-of-court resolution, People's United Bank and PATCO Construction have reached a financial settlement in their dispute over wire fraud losses.
If President Obama's second term were a movie sequel, I'd call it "Unfinished Business." It's time to step up and see through the cybersecurity initiatives Obama spoke about when he first took office.
Labeling it "a very close call," a U.S. district court has rejected a Mississippi bank's bid to have a former customer held liable for losses, damages and legal costs in an ACH and wire fraud case.
More malware attacks fueled by Citadel and Reveton are getting attention from federal authorities, which say banking institutions and consumers should be on high alert. What can institutions do to mitigate emerging malware risks?
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