Few banking institutions see mobile as a means to address security and fraud-prevention. Javelin's Jim Van Dyke tells how institutions - and their customers - can enhance security via mobile.
Banking institutions expect significant increases in fraud-fighting resources in 2012. But in which solutions should they invest? Banking CTO Michael Wyffels has some prioritized suggestions.
The tale of a close call with a phishing attack illustrates why educating consumers and businesses about online security risks plays a critical role in the fight against fraud.
When it comes to fighting financial fraud, Peter Tapling of Authentify says banking institutions are chronically underestimating and under-utilizing one key resource: Their own customers.
When it comes to the FFIEC Authentication Guidance, Aite analyst Shirley Inscoe fears too many banking institutions are investing only in achieving compliance - not ongoing security.
How will Diane Ness and BITS help banks reduce fraud? As the new head of fraud-reduction programs for the technology division of the Financial Services Roundtable, Ness says education and communication about emerging threats will be a priority.
With many questions surrounding the Global Payments breach left unanswered, how should card issuers respond to customers' concerns? ID theft expert Neal O'Farrell offers communications tips.
How well do banks conform to the FFIEC's updated Authentication Guidance? Gartner analyst Avivah Litan says most have made progress, but they still struggle with the details.
Until these deficiencies are fully addressed, a GAO audit reveals, increased risk exists to unauthorized access to sensitive data and programs and disruption of critical operations on managing the federal debt.
Most bankers doubt that big technology investments will reduce fraud, according to the 2012 Faces of Fraud survey. Why don't they believe technology is the answer?
Gartner analyst Avivah Litan questions whether the security vulnerabilities that led to a breach that exposed 1.5 million cards may be linked to long-standing security issues at Global Payments.
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.
According to our new survey, more than half of banking institutions expect an increase in fraud-fighting resources this year. But how are they investing those resources? The answers may surprise you.
"Regulation drives spending," says George Tubin of GT Advisors. "You're in a situation where the regulators are telling you, 'You have to do something; you have to make improvements.' Therefore, the bank has to spend some money on technology."
Global Payments' public response to the data breach that exposed card data on 1.5 million debit and credit accounts has, frankly, raised more questions than offered answers.
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