Improved collaboration and communication between small businesses and financial institutions is the first step toward improving online security, says Mark Patterson, an ACH fraud victim. What else would help?
U.S. and European institutions can learn from DBS Bank's example. In response to a rash of fraudulent withdrawals that cost accountholders $1 million, the bank is launching a new SMS/text alert service for ATM transactions.
Cyberhackers are increasing their efforts to target online credentials. And phishing attacks waged against accountholders at Chase in the U.S. and Barclays in the U.K. have made it clear that banking accounts are the target.
Researchers say the Ramnit worm, which has defeated two-factor authentication measures used to protect bank online accounts, is now targeting Facebook - a development that should be especially concerning to banking institutions.
ACH/Wire fraud was the big story in 2010 and helped influence the updated FFIEC Authentication Guidance. So, have incidents of corporate account takeover decreased in 2011, or are we just hearing less about them?
A new survey finds that only 56% of U.S. banking institutions have conducted risk assessments, but 87% have deployed layered security controls. Are banks ready to conform with the FFIEC Authentication Guidance?
In an exclusive interview about the findings of this new survey, Austin discusses:
Breaches have an adverse impact on the fundamental operations of a business or government and without fully understanding that, executives and managers cannot smartly run their operations successfully.
The scheme allegedly involved insiders recruited by fraudsters to steal information about more than 200 individuals and organizations. How can institutions improve background screening and prevent fraud?
These new sites now make Information Security Media Group the largest global network of information security-focused media sites, reaching the most diverse audience of decision-makers in each of ISMG's key markets.
As 2012 nears and federal regulators prepare to examine financial institutions for conformance with the FFIEC Authentication Guidance, just how prepared are banks and credit unions? The answer may surprise you.