Security concerns are the top barrier between consumers and mobile banking. Yet, only 17 percent of institutions have integrated consumer education into their mobile strategies. Javelin's Mary Monahan offers three tips to improve awareness.
An estimated 650,000 customers have recently switched from big banks to community banks and credit unions. But are these smaller institutions prepared for the new demand for security and fraud prevention?
As two recent fraud incidents prove, good work can be done when card issuers and retailers work in tandem. I hope we see more of that kind of collaboration going forward.
On Tuesday, Bank of America caved in to competitive and public pressure, reversing its decision to impose a fee for consumer debit transactions. So, now where will institutions find new revenue to help fight fraud?
Researchers at security vendor Symantec say they've been in contact with a 20-something Chinese man who may be behind a series of attacks against U.S. businesses with the aim to steal intellectual property.
ID theft expert Joanna Crane wonders whether banks, government agencies and healthcare providers do enough to assist consumers with ID theft recovery, saying consumer expectations are often loftier than what's being done to meet the demand.
The statement mailing error that affected thousands of Wells customers easily could have been avoided. The mishap is pretty easy to pinpoint: Checks and balances, no pun intended, were not in effect.
Phishing schemes that aim to gather credit and debit details are on the rise. The American Bankers Association offers tips on exactly what you should tell your employees and customers about the latest scams.
Banking institutions are focused on preparing for 2012 and their first examinations on conformance with the FFIEC Authentication Guidance. But beyond the exams, what are the fraud trends they need to prepare to face?
How much crossover should banking institutions rely upon as they evaluate authentication standards for retail vs. commercial accounts? Online security expert Christopher Beier offers insights.
What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
Banking institutions have a role to play: They must provide more customer education about the lures fraudsters use to compromise bank accounts and, ultimately, identities.
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