An online gang with ties to Romania and Russia has been bypassing two-factor, Android-based authentication systems - used by 34 different banks to authenticate customers - via the sophisticated Operation Emmental cybercrime campaign.
New research shows consumers believe online purchases are more secure than those made at bricks-and-mortar retailers. Researcher Shirley Inscoe of Aite explains why misconceptions about card fraud should be worrisome to banks.
A security expert and average consumers respond differently to the eBay breach. As most customers retain a high degree of faith in online merchant security, the expert believes eBay committed a serious sin in its lack of strong authentication.
Treasury Secretary Jacob Lew this week took the precedent-setting step of publicly addressing the financial system's cybersecurity shortcomings. Learn why one expert says this could represent a policy shift for the Treasury Department.
Federal authorities say the successful prosecution of a member of an international cybercrime ring proves progress is being made in shuttering ATM cash-out schemes. But some experts say processors and prepaid cards will continue to be targeted by attackers.
Choice Escrow is seeking a bench review of a recent appellate court ruling, which favored its former bank in an ACH fraud dispute. The firm argues the court set a bad precedent for future disputes by limiting Uniform Commercial Code protections.
FFIEC guidance and case law are helping banks define what constitutes "reasonable security." In a panel discussion, three experts debate the long-term impact of two recent account takeover fraud cases.
British police have worked with an international consortium of law enforcement agencies and information security firms to disrupt financial malware known as Shylock used to infect more than 60,000 PCs and steal millions of dollars.
Check fraud remains the No. 3 source of losses for financial institutions, Information Security Media Group's soon-to-be-released Faces of Fraud survey shows. But fraud expert Wesley Wilhelm says behavioral analytics can help mitigate the risks.