NACHA's CEO says ACH-related fraud is often over-hyped, and occurs far less often than check- and payment card-related fraud. But when corporate accounts are breached, fraudulent ACH transactions lead to big financial losses.
The Experi-Metal Inc. vs. Comerica Bank case is just one of several high-profile incidents of corporate account takeover -- but it's the first to finally head to court.
Investments in mobile offers and channel integration will not be mutually exclusive in 2011, says Jim Pitts. Mobile will actually bring more channels together.
"Many institutions only know about fraud when they get notified by the customer, and that is not indicative of an industry that is really trying to address the problem." George Tubin, TowerGroup
Banks and credit unions have to change the ways they invest in fraud prevention. What they need more of in 2011 are stronger cardholder authentication and more computing in the cloud.
Cybersecurity Coordinator Howard Schmidt unveils a White House blueprint to create an online environment where people and business can complete transactions in confidence.
The Internet offers financial institutions the promise of delivering new services at a fraction of the cost of traditional channels. As more consumers move online, this migration helps reduce operating costs and increase their customer base. The challenge lies in being able to offer these services across new and...
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