As two recent fraud incidents prove, good work can be done when card issuers and retailers work in tandem. I hope we see more of that kind of collaboration going forward.
The statement mailing error that affected thousands of Wells customers easily could have been avoided. The mishap is pretty easy to pinpoint: Checks and balances, no pun intended, were not in effect.
How much crossover should banking institutions rely upon as they evaluate authentication standards for retail vs. commercial accounts? Online security expert Christopher Beier offers insights.
Global events, especially those involving the deaths of politically exposed individuals, have significant impacts on individual banking institutions and the global financial infrastructure.
Banking institutions have a role to play: They must provide more customer education about the lures fraudsters use to compromise bank accounts and, ultimately, identities.
Facial recognition, arguably, is the technology that most threatens individual privacy online, and that's on the mind of Senate Commerce Committee Chairman Jay Rockefeller, who has asked the FTC to report on its growing use.
Nearly four years ago, Capital One Bank set out to integrate its fraud detection and anti-money laundering platforms. Today, the institution has some impressive results and savings to share.
"The CRMA will give us a heightened awareness of our responsibility in not just evaluating operational or compliance risks, but understanding strategic risks to the business," says Denny Beran of J.C. Penney.
Don't be too fast to blame Research In Motion for the disruption in BlackBerry service if your organization suffered from the lack of e-mail exchanges. It could be partly your fault, too, says noted infosec lawyer Francoise Gilbert.
The disruption of text messaging and Web browsing for BlackBerry customers opens up issues of company transparency and business continuity. How should the company have responded?
As the Bank of America website outage proved, "Assuming it's an attack or breach is now the default response," says ID theft expert Neal O'Farrell. So, how can organizations change that perception?
"Just as the space race motivated education and career development in the 1960s, cybersecurity can be today's driving force," says Dickie George, information assurance technical director at NSA.
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