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?
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.
President Obama has reportedly decided that the government shouldn't exploit encryption flaws, such as Heartbleed, in most instances unless there's "a clear national security or law enforcement need." But how should that need be determined?
An analysis of the Target breach prepared for a Senate committee is a political document that might help its patron's agenda but doesn't go far enough to identify technical solutions to help enterprises avoid Target-like breaches.
Simple credentials, such as passwords, are a hacker's best friend, says Phillip Dunkelberger of Nok Nok Labs, a founding member of the FIDO Alliance. That's why the alliance is working to reduce reliance on passwords by enabling advanced authentication.
In a groundbreaking effort to boost security, HSBC Bank USA is now requiring its retail banking customers to use dual-factor authentication for certain sensitive online banking transactions, says LuAnne Kingston, senior vice president.
To help reduce reliance on passwords, the FIDO Alliance is developing standard technical specifications for advanced authentication. Michael Barrett and Daniel Almenara of FIDO describe the impact the effort could have in 2014.
Hackers have pilfered some 2 million user passwords and credentials for Facebook and other social media and Internet sites, according to IT security provider Trustwave. The hackers attacked computers in about 100 nations.
Financial institutions and businesses in other sectors must continually collect information about their online customers to ensure stronger authentication, says Avivah Litan, a fraud expert and analyst for the consultancy Gartner.
The breach of a card loyalty marketing company has reignited discussions about the roles banking institutions, regulators and others play when it comes to mitigating third-party risks. Where should the buck stop?