Banks and credit unions are feverishly working to meet the FFIEC's authentication compliance deadline next year. But experts say institutions should be looking beyond the guidance, by making investments in cross-channel fraud detection.
Mobile banking is a 'must-have' today, but the foray into this new financial-services arena comes with risk. Consistent review and implementation of security layers and controls is the only strategic way to tackle emerging mobile offers.
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?
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.
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.
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.
The latest guidance issued by the Federal Financial Institutions Examination Council draws a line of clear distinction between the types of knowledge-based authentication available - from static challenge questions, such as those derived from customer enrollment information, to dynamic KBA sessions that serve as part...