A new cross-device malware strain that has been linked to last year's High Roller attacks is defeating dual-factor authentication. Experts explain why banking institutions worldwide should be on alert.
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.
The Consumer Financial Protection Bureau is the newest member of the FFIEC. So what does this additional regulatory oversight mean for U.S. financial institutions and how they prepare for future exams?
Preliminary results of the 2013 Faces of Fraud Survey show institutions are still suffering big financial losses linked to ACH and wire fraud. Why are they still getting hit, in spite of investments to detect and prevent account takeover?
Losses linked to retail breaches have fueled class action lawsuits on behalf of consumers. But Javelin's Al Pascual says banks are soon likely to take legal action, too, in breach cases that expose cards and lead to fraud.