Many banking institutions boast of being "digital first" and enabling "omnichannel banking." But are they fully aware of the new fraud risks they also are inviting? Kimberly Sutherland and Kimberly White of LexisNexis Risk Solutions discuss how to mitigate omnichannel fraud.
The New York state Department of Financial Services' cybersecurity regulation - 23 NYCRR Part 500 - has been in effect for nearly a year now, and covered entities face some significant compliance milestones in 2018. This regulation puts new demands on financial institutions for security leadership, breach...
Defending against tomorrow's mobile attacks is a moving target; but new technologies and strategies, including behavioral biometrics and machine-learning-based analytics, are allowing financial institutions to reduce their fraud losses while enhancing their customer experience.
Based on the latest results of ISMG's...
The blurred lines between personal and business use of social media makes compliance with the more than 10,000 rules and regulations an impossible task. However, with nearly a dozen regulators who have control of bank's social media usage, compliance among your employees, partners and customers is an essential duty....
In 2014, the FFIEC released the Joint Statement "Distributed Denial-of-Service (DDoS) Cyber-Attacks, Risk Mitigation, and Additional Resources." This session will review the six primary guidelines provided within the statement, assess the evolution(s) that have occurred in the threat landscape since its release and...
High-pressure. Fast-paced. Threats coming from all directions. The battle against payment fraud isn't unlike the game of basketball. Wire fraud and ACH fraud are on the rise, and financial institutions cannot be slow on the defense - to win, they must detect fraud in real-time.
Banking channels through which...
Easy Solutions' Ricardo Villadiego addresses how the digital revolution, millennials and the widespread use of online communications affect financial fraud.
In this transcript from his video interview at RSA Conference 2017, Villadiego:
Explains why banks are not proactive when it comes to fraud protection;...
Securing sensitive emails isn't just a best practice - it's often the law. Compliance with
regulations is a priority for healthcare, financial services and government organizations; it may
also need to be a priority for companies that work with these organizations or practice business
in specific...
The FFIEC's Cybersecurity Assessment Tool needs to be redesigned, as the tool's current design sets institutions up for cyber-risk assessment failure. Industry leaders say they're hopeful that change is on the way because the FFIEC is reviewing a second wave of comments about the tool's efficacy.
Soon, ongoing and persistent attacks waged for cyber-espionage and the compromise of personal and corporate information will be primary concerns for the financial services industry.
The FFIEC says it's taking several additional steps, including updating and supplementing its Information Technology Examination Handbook, to help banking institutions enhance their cybersecurity risk preparedness. Find out the details.
Emerging malware increasingly puts banks and their customers at risk for fraud. The sooner malware is detected and removed, the less likely banks are to suffer regulatory penalties and fines, and steep losses linked to fraud.
A Tennessee utility has sued its bank after a $327,000 account takeover incident. This new case shows why institutions must go above and beyond when it comes to detecting and thwarting fraud losses.
No question, the information security community - and all of us at ISMG -- lost a friend with the untimely death of Terry Austin, CEO and President of Guardian Analytics.
What's the main lesson community banks are learning from the FFIEC's cybersecurity pilot exams? That regulators want them to prove they understand emerging threats, says Booz Allen's Jeff Lunglhofer.
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