The 2015 ABA Deposit Account Fraud Survey is the eleventh biennial industry study conducted by the American Bankers Association on the topic of deposit account fraud. For over two decades, this ABA survey series has collected detailed DDA fraud information across traditional and emerging banking channels. With...
Just six months after law enforcement agencies coordinated a takedown to disrupt online banking credential theft linked to the banking Trojan Dridex, the malware has re-emerged with new attack tactics and new targets, researchers say. U.S. bank accounts and businesses are now primary targets.
A report that the $81 million Bangladesh Bank heist was linked to customized malware has raised questions about the security of SWIFT transactions. But the more critical issue, fraud experts say, is the need for banks to have proper security controls in place to detect and prevent network intrusions.
Card fraud, account takeovers, business email compromises and emerging cybersecurity regulations and risks have kept, and continue to keep, plenty of CEOs and CISOs up at night. While it's impossible to focus time, energy and resources on all of today's fraud and cybersecurity risks, wise banking executives have...
With the barrage of connected devices, new technologies like cloud computing, and a continuous wave of sophisticated threats, managing security is becoming increasingly complex - security needs to adjust to new operational realities.
Organizations that possess consolidated security simplify complex environments,...
Historically, innovation within the financial services industry has moved at a glacial pace. A combination of factors limited institutions such as compliance obligations, dependence on complicated infrastructure, and a riskaverse approach to security. An environment was created where innovation was perceived as risky...
Digital transformation offers financial institutions the
potential to reinvent themselves and meet
heightened customer expectations. Those that
embrace digitization as not simply a defensive
strategy against bank and non-bank competitors,
but as a way to increase revenue through improved
consumer insights and...
Twitter has issued its first-ever alerts to some users that they may have been "targeted by state-sponsored actors." Some cryptographers, software developers and security experts say they have received the alerts.
Most businesses use the cloud for at least some applications - collaboration, email, backups and disaster recovery. And many more plan to in the next 12 months. According to "Orchestrating Security in the Cloud," a SANS survey, 40 percent of businesses store or process sensitive data in the cloud. But is it safe from...
Fraudsters are increasingly using global brands, including Apple, to fool consumers into providing personal and financial information that can be used to compromise financial accounts. Experts offer insights on the latest trends and how to respond.
Distributed-denial-of-service attacks on banks are more powerful than ever, but we hear less about them than we did three years ago. How have attackers changed their tactics, and why should we be even more concerned about their strikes?
Today's cybercriminals are aware of the fraud prevention technologies deployed by most financial institutions, and they design attacks to circumvent these controls. Transaction anomaly detection and device ID approaches can be highly inaccurate, generating a large number of false positive alerts that can overwhelm IT...
In the past year, so-called business email compromise attacks, also known as "masquerading" and "executive impersonation," have emerged as one of the greatest wire fraud worries. These schemes threaten to overshadow what was previously seen from commercial account takeover incidents.
In this session, we will explore...
Using Big Data Analytics to discover, track and prevent fraud is becoming an important tool in the security arsenal. For instance, experts predict that mobile banking will soon be the dominant banking and payments channel -- offering another avenue for fraud. As the identity and fraud threat landscape evolves,...
As recent incidents prove: Retail point-of-sale breaches are on the rise, creating greater payment card fraud headaches for banking institutions. How does the impact of these crimes compare to that of account takeover, check fraud, insider crimes and the emerging realms of virtual and mobile payments? Receive insights...
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