Although skimming attacks are still the greatest ATM fraud concern, experts warn that a new malware strain that targeted ATMs in Mexico may signal a shift and raises questions about software and operating system vulnerabilities.
Banking institutions and merchants are fighting back against cyber-attacks by sharing information and assisting law enforcement investigations, says Julie Conroy of Aite, which has issued a report about account takeover and cyberfraud trends.
Russian authorities have reportedly arrested a man believed to be the author of the Blackhole exploit kit, widely used by cybercriminals to exploit vulnerabilities in Web browsers and other software to infect user computers with malware.
Face-to-face and over-the-phone social-engineering schemes are increasingly used to perpetrate fraud, highlighting the need for more education and real-time transaction monitoring, says Gartner's Avivah Litan.
The FFIEC has warned banking institutions to take steps now to avoid security and operational risks associated with Microsoft's plans to discontinue support of Windows XP. Experts explain why replacing the operating system is critical.
Despite the recent lull in al-Qassam Cyber Fighters' DDoS attacks against U.S. banks, the ABA's Doug Johnson and FS-ISAC's Bill Nelson warn banks to avoid complacency, noting that DDoS attacks pose an ongoing threat.
Knowledge-based authentication is no longer reliable, says fraud expert Avivah Litan, an analyst at Gartner. She explains why so-called behavioral authentication is the only reliable way to verify users.
The United States should be prepared for a dramatic increase in card-not-present fraud as cards using the EMV standard are widely deployed, says card fraud prevention expert Julie Conroy of Aite, who describes the reasons why.
Randy Trzeciak and his CERT Insider Threat Center colleagues are working to broaden the definition of the insider threat to incorporate not just the risk to information and IT but to facilities and people, too.
In the wake of an ongoing stream of merchant and payment processing breaches, the FDIC is reminding smaller banking institutions that they are ultimately responsible for ensuring the security of cardholder data.