Most bankers doubt that big technology investments will reduce fraud, according to the 2012 Faces of Fraud survey. Why don't they believe technology is the answer?
According to our new survey, more than half of banking institutions expect an increase in fraud-fighting resources this year. But how are they investing those resources? The answers may surprise you.
"Regulation drives spending," says George Tubin of GT Advisors. "You're in a situation where the regulators are telling you, 'You have to do something; you have to make improvements.' Therefore, the bank has to spend some money on technology."
Complying with PCI requirements is now a normal part of doing business in today's interconnected world.
This white paper discusses how the PCI requirements apply to an IBM i server, and describes how PowerTech software can help you meet compliance guidelines.
You'll learn:
Technology is only part of the solution. To truly combat phishing, banking institutions need to address a trickier part of the equation. They need to change human behavior. Here are experts' tips.
Payments processing firm Global Payments Inc. has confirmed its role in a data breach that could prove to be the largest such incident since the Heartland Payment Systems breach.
"Many financial institutions have watched for years as cybercrime has escalated, and now we are shutting it down," says Greg Garcia, describing Operation B71 and how it's helping combat ACH/wire and other forms of fraud.
The U.S. Treasury has officially launched new sanctions against organized crime. What role do banks and credit unions have to play in this fight? Fraud experts at Ernst & Young offer insights.
Integrating fraud-detection and AML systems not only has helped First Hawaiian Bank track fraud patterns. It also has helped the institution comply with new regulatory requirements. Here's how.
The FFIEC Authentication Guidance update has been in circulation since mid-2011. But as banking examiners begin testing for conformance, we find:
Only 11% of surveyed institutions have come into conformance since the guidance was issued;
Nearly 30% don't fully understand the guidance;
88% do not believe the...
Banking institutions have fought phishing and ACH fraud, but increasingly fraudsters are exploiting call centers. Where are the vulnerabilities and how can institutions fight back?
Unmistakably, the release of the FFIEC supplement was the result of an increasingly hostile online banking environment created by the introduction of advanced malware. To effectively comply with FFIEC guidelines, financial organizations need to select a solution that is able to provide real-time threat intelligence...
The Texas Department of Banking has partnered with the U.S. Secret Service to help banking institutions prevent ACH/wire fraud. What are this new task force's key recommendations?
The proliferation of mobile banking raises new security challenges. What emerging risks do banking institutions face as they roll out mobile platforms? Julie McNelley of Aite offers insight.
Far too many identity solutions today rely on simple user names and passwords, says Brent Williams, CTO of Anakam Identity Services - the identity product line of Equifax. But the future of identity is bright, he says.
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