Social media platforms have emerged as the world's most popular forms of communication. They also have become popular platforms for committing fraud. David Pollino of Bank of the West outlines what institutions should do to secure their social media presence.
Recognizing that social media create fertile grounds for fraud, the American Bankers Association now shares advice for how institutions can use these channels in ways that are compliant, smart and risk-savvy. The ABA's Denyette DePierro offers some tips.
This edition of the ISMG Security Report features Elvis Chan, a supervisory special agent at the FBI, discussing ongoing efforts to thwart Russian interference in the U.S. midterm election this fall, and Alberto Yepez of ForgePoint Capital addressing cryptocurrency security issues.
A "local network breakdown" - reportedly caused by a ransomware infection - led Chinese shipping giant Cosco to shut down all networks for its offices in the United States and seven other countries while it scrubbed and restored systems.
Facebook has promised to bring machine learning to bear on the problem of hate speech and information warfare via its platform. But insiders have been urging the company to pursue a major cultural change, including prioritizing not doing anything "creepy" over the quest for short-term gain.
Randy Trzeciak, director of the CERT Insider Threat Center at CMU, says he's frequently asked: "Haven't we solved the insider threat problem?" Far from it, he responds. In fact, he's helping many organizations start insider threat defense programs. He'll be a speaker at ISMG's New York Security Summit.
For years, Brett Johnson dedicated his time to cooking up new ways to defraud individuals and enterprises. Now the convicted felon spends his time recounting his crime story for business and security leaders. He'll be a featured speaker at ISMG's Security Summit Aug. 14-15 in New York.
Jon Montroll, the former operator of a bitcoin exchange that was hacked, leading to the theft of 6,000 bitcoins, has pleaded guilty to charges that he obstructed federal investigators and deceived investors by attempting to cover up the losses.
The fight against fraud in a cashless economy requires investments in technologies that can offer early warning signals, says Bharat Panchal, senior vice president and head of risk management at National Payment Corporation of India.
With the topic of election security buzzing, Elvis Chan of the FBI has two primary concerns about the upcoming midterm elections: The cybersecurity of the election systems and protecting people from the influence of foreign adversaries such as Russia.
In the wake of so many mega-breaches, new account fraud is easier to perpetrate than account takeovers. This puts new pressure on enterprises to know their digital customers, as well as to authenticate their identities and activities, says Shaked Vax of IBM Security.
Better, stronger fraud-detection intelligence - that's the promise of the new 3-D Secure 2.0 protocol for digital merchants, networks and financial institutions. But what should organizations do to prepare? James Jenkins of CA Technologies weighs in.
The Reserve Bank of India issued a notice to all cooperative banks advising them to apply caution while deploying third-party core banking applications and check for appropriate security standards. The move came after credential theft incidents at some banks. But will banks heed the advice?