The FDIC is urging banking institutions to pay more attention to vendor management in light of recent breaches, such as one that compromised core processor Fidelity National Information Services.
The NSA, in a highly classified program code-named Bullrun, used supercomputers, technical trickery, court orders and behind-the-scenes persuasion to undermine encryption, according to a news report.
Citi's settlement with two states over a breach that exposed 360,000 cards will likely set an example for other states. One expert says banking institutions will likely pay more damages when accounts are compromised.
International markets that have implemented EMV technology are seeing reductions in card fraud, but non-EMV markets are seeing dramatic upticks, says U.K.-based card fraud expert Neira Jones.
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...
Iris scanning is becoming old hat for authenticating individuals entering secured facilities or crossing international borders, but it remains several years away for use in providing access to IT systems.
Few community banks and credit unions have taken the necessary steps to help guard against the growing risks of patent infringement lawsuits. What lessons can they learn from larger institutions?
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.
Many banking institutions have done a poor job of addressing call-center fraud, says IDC analyst Jerry Silva, who offers tips on addressing the challenge of balancing customer service with security.
Recent high-profile attacks on banking institutions and payments processors showcase the technical sophistication of cybercriminals. Organizations must prepare now for the next wave of attacks.
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.
In the wake of domain name systems attacks aimed at The New York Times, Twitter and other media sites, experts say security professionals in all fields should take specific mitigation steps.
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.
As victims of cyber-attacks on their domain name systems providers, The New York Times, Twitter and the Huffington Post UK may have opened themselves and their customers to more nefarious threats, a leading IT security expert says.
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