Microsoft Corp. says it led a team that has successfully disrupted command and control servers used to run some of the world's most damaging variations of botnets proliferating the Zeus malware.
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...
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?
Maintaining adequate data security is challenging for investment firms and banks, which must grapple with a widening array of security and regulatory issues. With attacks leading to losses in the hundreds of millions of dollars, many financial firms are seeking - and finding - help in the battle against online...
Losses linked to debit fraud are increasing, says Jane Yao of the American Bankers Association, and the industry is in a perpetual state of catch-up. A new study tells how institutions can fight back.
What are the top two fraud schemes hitting banks and credits unions the hardest? The early responses from our ongoing 2012 Faces of Fraud Survey just might surprise you.
Have corporate account takeover incidents abated? Are banking institutions ready to conform to the FFIEC Authentication Guidance? These questions are posed by the Faces of Fraud Survey. Take the survey now.
"The misfortune here for the banks is that they can have the best fraud-detection systems out there ... but it all breaks down when they call the 'hacker' to verify the transaction," says Gartner's Avivah Litan.
Regulators have hinted at it, and industry experts say it's coming. U.S. banking institutions can expect to see new guidance for mobile banking. The open questions are: When, and in what form?
Spear phishing, or targeted phishing, schemes are the industry's most concerning trend, according to a new report from the APWG. So, what can we do to curb phishing attacks? Executives at BITS and FS-ISAC have a new idea.
People, as much as anything else, are a critical aspect of information risk management, and businesses and government agencies must monitor employees - and educate them, as well - to thwart a potential threat from within.
Losses linked to debit fraud now exceed losses connected to check fraud, according to a new survey by the American Bankers Association. How are banks responding to the threat?
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?
As part of the updated FFIEC Authentication Guidance, U.S. banking regulators mandate that financial institutions conduct periodic risk assessments of their electronic banking services.
But in the face of evolving threats, a growing online customer base and emerging mobile technology, what is the most effective...
John Carlson sees the evolution of technology introducing new threats to financial institutions. So, how will BITS' new VP of cybersecurity and fraud prevention help banks mitigate those risks?
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