Banks often choose usability over security in their app design. They are driven to make their apps more consumer-friendly, and this often comes at the expense of building a more secure app. The result is that hackers and cyber-criminals are flocking to mobile banking apps because of their target-rich...
Direct global losses from ATM skimming are estimated to be billions of dollars annually; with losses from skimming on a single, non-bank, ATM ranging from $5,000 to $100,000, and an average $650 per card. You can combat these risks with an easy-to-use mobile friendly QR code that visually verifies transactions to...
Leading the latest version of the ISMG Security Report: A tale of how a dedicated manager spent her weekends monitoring video of ATMs led to the capture of a criminal skimmer. Also, the growing sophistication of cybercriminals.
Mayra Koury wears a lot of hats at $2 billion Tech Credit Union in San Jose. One of them is fraud investigator. Hear how she single-handedly staked out the institution's ATMs and helped law enforcement catch a skimming fraudster in action.
A discussion on how the understanding of epidemiology, immunology and genetic research processes can help developers create methods to secure information systems leads the latest episode of the ISMG Security Report. Also featured: insights on strengthening ATM defenses.
This edition of the ISMG Security Report debunks recent reports suggesting that Austrian hotel guests were locked into - and out of - their rooms by ransomware. Also, would a cybersecurity executive order from U.S. President Donald Trump advance the nation's existing efforts?
Three Eastern European men have been sentenced to five years in prison for their roles in helping a criminal gang steal $2.7 million from First Commercial Bank ATMs in Taiwan. Europol says two others involved in the thefts have been arrested in cooperation with Belarus and Romanian authorities.
Malware designed to get ATMs to spit out their cash - advanced when it first debuted - has been upgraded, according to a report from FireEye. Now, the Ploutus-D malware talks to legitimate ATM middleware, enabling it to target machines from 40 vendors. What does this mean for financial institutions?
A just-issued report from President Obama's Commission on Enhancing National Cybersecurity outlines challenges the next administration should address. Observations from one of the panel's commissioners highlight the latest episode of the ISMG Security Report.
Local police are investigating ATM skimming attacks at four New York hospitals. Security experts warn that fraudsters will likely continue to target locations, including hospitals, where ATMs are not closely monitored and around-the-clock access to the terminals is available.
European banks have seen a new wave of ATM jackpotting attacks, where machines are commanded by malware to spit cash into the waiting hands of criminals, according to a new report. But why is this report being cautiously received?
As U.S. ATM operators face MasterCard's Oct. 21 EMV liability shift deadline, a surge in explosive attacks against European ATMs is a reminder that anti-fraud features won't block all money machine crime.
Same-day Automated Clearing House (ACH) payment processing became a reality. While this represents a terrific opportunity for banks to be responsive to their customer's requirements for faster ACH payments, plus the ability to attract new customers from banks who choose not to offer the same level of responsiveness,...
Brazen ATM thefts from financial institutions in Taiwan and Thailand have sent a shiver through the global banking industry. An inside look at the malware used in the attacks reveals attackers' clever, incremental improvements.