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.
As online threats continue to escalate, organizations need to adopt best practices in online security that can also achieve user convenience and budget constraints.
Financial institutions face similar security challenges when delivering online and mobile banking services today:
How to maintain customers'...
U.S. banking institutions are making solid progress to conform to the FFIEC Authentication Guidance, says William Henley of the FDIC. So, how are examiners responding to banks' good-faith efforts?
More than a year after issuance of the FFIEC Authentication Guidance, many smaller banking institutions still struggle to conform. How are service providers such as Q2ebanking stepping in to assist?
The definition of reasonable security changes over time. And that's something the courts must consider when reviewing legal disputes over fraud liability.
How well do U.S. financial institutions conform to the FFIEC Authentication Guidance? One regulatory agency discusses the state of conformance and what its examiners have learned from institutions.
IT security expert Francoise Gilbert says the FFIEC's new resource document on cloud computing understates the risks all banking institutions should consider. What areas is she most concerned about?
Banking institutions are making significant anti-fraud investments as they work toward conformance with the FFIEC's updated Authentication Guidance. But are they investing in the right solutions?
The out-of-court settlement reached in a dispute between Village View Escrow and Professional Business Bank shows it's getting more difficult for banks to avoid liability, experts say.
A lingering legal dispute over a corporate account takeover incident at escrow company Village View has finally come to a close. Find out more about the details of the case and the settlement.
A new survey from FS-ISAC and the ABA finds financial losses linked to ACH fraud are decreasing. What are banks doing differently, and what technology investments are reaping the most rewards?
Too many banks and credit unions are being narrow-minded in their approaches to FFIEC Authentication Guidance conformance, by focusing on commercial accounts and neglecting retail accounts, one ACH fraud attorney says.
Banks and credit unions are making investments to prevent ACH/wire fraud. But are they investing in the right solutions? Attorney Joseph Burton says the focus must be on 'reasonable' security.
The FFIEC Authentication Guidance update has been in circulation since mid-2011. But as banking examiners begin testing for conformance, we find:
Only 11% of surveyed institutions have come into conformance since the guidance was issued;
Nearly 30% don't fully understand the guidance;
88% do not believe the...
Unmistakably, the release of the FFIEC supplement was the result of an increasingly hostile online banking environment created by the introduction of advanced malware. To effectively comply with FFIEC guidelines, financial organizations need to select a solution that is able to provide real-time threat intelligence...
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