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.
Financial Institutions already apply out-of-band security in many instances. The challenge is: How do we help protect payment cards when they are used at any number of online and brick-and-mortar retailers?
Educating customers about financial fraud and scams is not a nice-to-have; it's a necessity. If your customers won't protect themselves, then no campaign your organization puts forward will succeed, says BankWest's Patti Broer.
While user education is valuable, needed and helpful, there is one problem with this approach - it only partially works, and partially working is simply not good enough, security expert George Tubin contends.
Electronic banking fraud is as rampant as ever because of the failure to address one of the core problems, says security specialist Tom Wills, who describes why focusing only on technology to defeat Trojans will never work.
Smaller nation-states have been upping the ante of cyber-attacks for years, and now one has shown us exactly the kind of cyberdestruction that extremist elements are willing and able to conduct, former-U.S. National Intelligence Director Mike McConnell writes.