Financial Institutions already apply out-of-band security in many instances. The challenge is: How do we help protect payment cards when they are used at any number of online and brick-and-mortar retailers?
Banking experts say the Retail Industry Leader Association's launch of a cyberthreat information sharing initiative is a good first step toward thwarting breaches, but it should build on the models used by other industries.
eBay is urging its 145 million customers to change their passwords following a cyber-attack on a company database that compromised encrypted passwords and other personal information. Learn how and when the attack originated.
High-profile retail breaches, such as the one suffered by Target Corp., could spur more merchants to promote increased use of mobile payments to boost security, says Thad Peterson, a new analyst at Aite Group.
The arrests of more than 90 individuals for their alleged involvement in the use of BlackShades malware is a sign of progress in the global fight against cybercrime, but some experts question whether the crackdown will serve as a fraud deterrent.
The Federal Reserve will make recommendations this summer for how the United States could launch a "fast-payments" system with enhanced authentication, says Kirstin Wells of the Federal Reserve Bank of Chicago.
Security executives who attended ISMG's Fraud Summit Chicago said they see a growing need for sharing more cyber-intelligence with community banks and credit unions. But how else could smaller institutions improve their fraud-fighting efforts?
Class action lawsuits that banking institutions filed against Target Corp. in the wake of the retailer's massive breach are being consolidated. The suits seek recovery of expenses, such as the cost of re-issuing affected payment cards.
A multi-layered approach known as "context-aware security" is the most effective strategy for fighting both insider and external cyberthreats, says Gartner analyst Avivah Litan, who explains how this strategy works.