The recent settlement announced by Village View Escrow and Professional Business Bank offers key insights into how incidents of fraud resulting from account takeover might be handled in the future.
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?
A Mississippi bank is taking legal action against a former commercial customer, claiming the customer is liable for losses and damages linked to a suit over ACH/wire fraud.
The U.S. Federal Financial Institutions Examination Council has issued a resource document to help financial institutions better understand and address unique risks posed by outsourced cloud-based services.
The draft guidelines recommend developing system threat models, instituting a mobile-device security policy, implementing and testing a prototype of the mobile-device solution and securing a device before allowing user access.
BITS is ramping up its work with federal regulators around pending legislation. What initiatives is the group spearheading, and how can banking institutions play an integral role in the process?
Don't be too quick to write off the PATCO court ruling as a victory for banking customers in the debate over ACH/wire fraud liability. The reversal could actually be a win for banks.
The First Circuit Court of Appeals ruling offers a fascinating look at exactly which security controls Ocean Bank, now People's United Bank, did - and did not - offer to customers such as PATCO.
How are banks addressing mobile security risks? Bank of America's Keith Gordon says most are just beginning to forge ahead in the mobile space, and new security gaps are areas for which institutions have to prepare, proactively.
The Zeus Trojan is frightening because of its agility, evolution and success at stealing banking credentials. How can institutions fight back? Malware expert Andreas Baumhof offers new ideas.
A U.S. appeals court reversed a lower court's ruling in the ACH/wire fraud dispute between PATCO Construction Inc. and the former Ocean Bank, now People's United. What is next in this high-profile case?
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 story on how the FBI built its case against Jarand Moen Romtveit in an international carding sting gives IT security practitioners valuable insights on how one individual works in the murky world of hacking.
In what is being called "the largest coordinated international law enforcement action in history directed at carding crimes," 24 suspects have been arrested in a fraud scheme likely involving more than 400,000 accounts.
The recent settlement between Village View Escrow and Professional Business Bank could set a new course for legal disputes involving account takeover, say the attorneys involved in the fraud case.
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