Fraud is winning in the fight against cybercrime. Why? Because financial institutions continue to rely on ineffective technology and controls, says fraud analyst Tom Wills says.
As smartphone usage grows, so do emerging threats of mobile malware. When it comes to mobile banking security, financial institutions can only do so much. Security solutions will have to come from mobile vendors, says ENISA's Giles Hogben.
Mobile apps and smartphone security are increasing global concerns. But Dr. Giles Hogben of ENISA says mobile malware mania is a bit overhyped, since mobile is actually more secure than most other platforms currently on the market.
Mobile definitely has vulnerabilities that pose risks. But are our concerns about open-source platforms and the mainstream availability of downloadable mobile apps over-hyped?
The breach earlier this month of certificate authority DigiNotar could prove to be the worst security event ever to happen on the Internet because it threatens, at its core, a fundamental principle of Internet transactions - economic and social - trust.
International communication and public-private partnerships are the keys to cybersecurity in the financial space, according to the Department of Homeland Security and the Financial Services - Information Sharing and Analysis Center.
Most consumers understand the need for security on laptops and PCs. On mobile devices, the thinking is not the same. "Their behavior is much riskier," says Markus Jakobsson, online security expert.
The 9/11 attacks did not just affect America; they impacted the world. The events of that day stir frightening memories in everyone. In the end, every nation is vulnerable to terrorism.
Are executives spending too much time and energy focused on external hacks, sacrificing attention they should be paying to internal threats? It's good that business leaders understand insiders pose risks, but are they taking those risks as seriously as they should?
The Finnish security provider F-Secure concludes the attack e-mail doesn't look too complicated. In fact, it's very simple. But the exploit inside Excel was a zero-day attack at the time and RSA couldn't have protected against it by patching its systems.
As the use of mobile banking grows, banks and credit unions also should take steps to educate their customers and members about safe e-banking practices.
As banks and credit unions assess online risk, in light of the updated guidance from the FFIEC, financial fraud analyst Tom Wills says they should consider mobile as a viable layer for out-of-band authentication.
International collaboration, steeper convictions for those who are caught and government support for the cyberfight are fueling positive progress in the fight against cybercrime.
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