How prepared are most U.S. banks and credit unions are the first wave of exams since issuance of the FFIEC Authentication Guidance? Insights from industry experts might surprise you.
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.
Donna Flynn says Liberty Bank discovered three key gaps when it tackled FFIEC authentication guidance compliance. Two were easy to fill. The third required an out-of-the-box solution.
BITS, the technology policy division of The Financial Services Roundtable, has just named a new VP of cybersecurity and fraud prevention. What's John Carlson's mission, and what's it mean to banks?
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?
Customers want to be involved with their banking security, but few institutions allow them to play active roles in fraud prevention. What has to change?
Data breaches are all about reputational risk, says attorney Lisa Sotto. And as legal requirements grow, attorneys must play increasingly integral roles in helping clients respond to incidents.
Phishing schemes, like the one claiming to be from the Better Business Bureau, target consumers who have concerns about troubled accounts or account breaches. And social engineering is used more often to acquire financial and personal information.
We all know the online shopping risks consumers face on CyberMonday. But how does the BYOD mobile computing trend impact risks to organizations from their own employees shopping on the job?
Two years after his business was a victim of ACH fraud, PATCO's Mark Patterson doubts whether most small business owners are yet aware of the risks they face. And he doesn't think the FFIEC guidance will help.
ACH fraud victim Mark Patterson says small businesses like his welcome improved online security measures from banking institutions. But is the new FFIEC Authentication Guidance sufficient? Patterson says no.
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.
First Midwest Bank has never suffered a loss because of ACH breach. The secret: never getting overly confident or too comfortable with one or two modes of protection.
Banks and credit unions need to evaluate risks and implement proper controls to mitigate threats in the online world. And that means investing in technology that meets enhanced authentication demands.
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