Mobile banking is a 'must-have' today, but the foray into this new financial-services arena comes with risk. Consistent review and implementation of security layers and controls is the only strategic way to tackle emerging mobile offers.
U.S. and Estonian authorities have broken up one of the largest Internet crime schemes that allegedly netted $14 million in fraudulent advertising fees and infected 4 million computers in 100 countries.
Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
Security concerns are the top barrier between consumers and mobile banking. Yet, only 17 percent of institutions have integrated consumer education into their mobile strategies. Javelin's Mary Monahan offers three tips to improve awareness.
An estimated 650,000 customers have recently switched from big banks to community banks and credit unions. But are these smaller institutions prepared for the new demand for security and fraud prevention?
Giving back to the community. It's a civic responsibility, says Dan Waddell of Tantus Technologies. But it's also a necessity to help raise cyber awareness. Waddell explains how security pros can give back.
IT security practitioners should understand why the bits, bytes and network connections - the technologies - are important to their organization's goals. Ignorance of the mission, for IT security folks, isn't bliss.
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.
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