ATM cash-outs and card-skimming schemes are getting more difficult to detect because today's attacks are global, coordinated and sophisticated, says ATM security expert Chuck Somers.
A ransomware campaign has targeted millions of bank clients in the U.K., and experts warn of a worldwide surge in attacks. They say banking institutions have to be diligent about informing customers of the risk.
U.S. Attorney Steve Wiggington says identity theft, especially linked to card skimming, is still the No. 1 fraud threat facing financial services institutions as well as consumers. He stresses information sharing is critical for fighting fraud.
The same vulnerabilities that have made the online banking channel an easy target for fraudsters also will soon plague mobile banking, says Julie Conroy, a consultant with Aite.
Information Security Media Group is offering a growing list of fraud-fighting educational opportunities, including videos of presentations at its recent Fraud Summit plus a series of 2014 summits.
Banking executives were among the CEOs who met with President Obama at the White House to discuss cybersecurity strategies. Paul Smocer of BITS explains how this discussion may pay off for financial institutions.
Senior leaders in business and government are buying in to the need for more cybersecurity investments as well as threat-intelligence sharing, new research shows. But why are they still struggling to hire the right security pros?
New revelations about how the National Security Agency collects and uses e-mail and instant-messaging contact lists demonstrate bad data governance practices that raise serious concerns, a leading privacy attorney says.
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.
Communication is key in the wake of a cyber-attack, says Dennis Simmons of SWACHA, who explains how simulated attack drills will help banks overcome their information sharing challenges.
On the one-year anniversary of al-Qassam Cyber Fighters' first announcement about DDoS attacks against U.S. banks, experts discuss what may happen next, including whether the group will join forces with the Syrian Electronic Army.
Organizations still have concerns about sharing too much data and threat intelligence to help thwart attacks. But EMC's Kathleen Moriarty says organizations' fears about intellectual property compromises are overblown.
OpUSA's planned Sept. 11 DDoS against U.S. banks and governmental agencies proved to be uneventful, experts say. But they warn that other potential attacks, especially those with a Syria connection, could prove to be far more serious.
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.
Three U.S. banks have been targeted by new DDoS attacks that apparently had little impact. As bank defenses improve, some experts say the attackers may shift targets to other industries affecting critical infrastructure.
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