"Banks and businesses have to realize: It's not a matter of 'if' when it comes to these attacks," says Barry Rich, CFO of Tennessee's CapitalMark Bank & Trust. "it's just a matter of when."
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:
Banking...
When Liberty Bank began reviewing online risks to conform with the FFIEC Authentication Guidance, layered security came up as a weak spot. So how did this community institution address its risks?
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.
What's the connection between 14 Romanians and an alleged phishing scheme that involved 10 U.S. banks and their customers? A new, unsealed indictment outlines a massive fraud and ID theft conspiracy.
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.
Revised guidance from the National Institute of Standards and Technology, SP 800-63-1, could help organizations protect themselves from a growing threat to their information assets: the insider.
The Federal Deposit Insurance Corp. is warning its banks about another strand of phishing attacks purporting to come from the FDIC. The e-mails claim to offer critical information about business bank accounts.
Law enforcement officials say a New York crime ring defrauded TD Bank of more than $450,000 in a check fraud scheme. What loophole did the fraudsters find to run this scam, which went undetected for nearly two years?
From social media to mobile banking, emerging technology areas continue to concern financial institutions. Which security initiatives will BITS help institutions to focus on in 2012?
Despite the FFIEC authentication guidance and the growth of online fraud, financial institutions still rely on outdated practices that expose customers to risk. How can institutions update their security measures?
It's a corporate account takeover scheme - with a twist. The scam involves money mules and distributed denial of service attacks. "This is an entirely different scenario," says Mike Smith of Akamai Technologies.
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