Banking institutions and merchants are fighting back against cyber-attacks by sharing information and assisting law enforcement investigations, says Julie Conroy of Aite, which has issued a report about account takeover and cyberfraud trends.
Nations' policies for mitigating cyberthreats can conflict with efforts to promote cyber-enabled global trade, cautions Allan Friedman, research director of the Brookings Institution's Center for Technology Innovation.
Face-to-face and over-the-phone social-engineering schemes are increasingly used to perpetrate fraud, highlighting the need for more education and real-time transaction monitoring, says Gartner's Avivah Litan.
To mark his induction into the National Cyber Security Hall of Fame, Purdue University Computer Science Professor Eugene Spafford offers insights on key challenges, including overcoming senior executives' misperceptions about key issues.
Knowledge-based authentication is no longer reliable, says fraud expert Avivah Litan, an analyst at Gartner. She explains why so-called behavioral authentication is the only reliable way to verify users.
Mitigating card risks associated with retail malware attacks and POS vulnerabilities is a focus of updates to the PCI Data Security Standard, say Bob Russo and Troy Leach of the PCI Security Standards Council.
More than 1,000 banks will test their incident response strategies by participating in a simulated cyber-attack exercise. SWACHA's Dennis Simmons says the drill, which is open to more participants, will help bolster defenses.
Phishing attempts against bank employees are on the rise. How can institutions improve their defenses? Daniel Ingevaldson of Easy Solutions offers insights on how to combat advanced phishing techniques.
In the wake of a year of attacks waged against banking institutions by Izz ad-Din al-Qassam Cyber Fighters, the FS-ISAC's Bill Nelson and the ABA's Doug Johnson say the need to regularly update DDoS preparedness is a critical lesson learned.
When building a business continuity plan, banking institutions too often overlook certain key processes that must be maintained after a cyber-attack or a disaster, says Dan Shannon of core banking processor FIS.
Fraud is increasing across the board, but attributing losses to certain types of fraud continues to pose challenges for many banking institutions, says Doug Johnson of the American Bankers Association.