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.
"We've made the investments in our shields, they must work" - this statement must have been decried by legions of ancient soldiers as this age-old defense decayed before their eyes and they were crushed on the battlefield. In fact, the graveyard is littered with 'proven' defense strategies which, given time, have...
Federal indictments tied to global fraud schemes prove law enforcement is cracking down, says former federal prosecutor Kim Peretti. But increasingly these schemes are targeting smaller merchants - a worrisome trend.
A new cross-device malware strain that has been linked to last year's High Roller attacks is defeating dual-factor authentication. Experts explain why banking institutions worldwide should be on alert.
Organizations incorporating social media into their daily operations tend to have gaps in policies, and key aspects are often an afterthought, says attorney David Adler, who pinpoints areas to address.
In light of recent retail breaches, courts are likely to start holding retailers more accountable than they have in the past for financial losses that result from fraud, predicts analyst Al Pascual of Javelin.
A malware attack that exploited a point-of-sale vulnerability of a select group of Kentucky and Southern Indiana retailers has now been linked to attacks against Schnuck Markets Inc. and four other merchants.
Account takeover techniques are getting more sophisticated; new "account checkers" are helping hackers automate their processes. The trend is just one more reason why we need advanced forms of authentication.
Banking institutions have done a poor job of educating consumers about payments fraud prevention, says Aite analyst Shirley Inscoe. "Banks need to figure out how to communicate with consumers in a way consumers understand."