"People appreciate being contacted when particular transactions look risky," says Peter Tapling, President and CEO of Authentify. "Out-of-band authentication provides the opportunity to do that in real-time, at very low cost to the institutions."
What are the top emerging fraud threats to banking institutions via mobile banking, and how must security leaders respond? Julie McNelley of the Aite Group offers tips for fighting the newest threats.
As part of the updated FFIEC Authentication Guidance, U.S. banking regulators mandate that financial institutions conduct periodic risk assessments of their electronic banking services.
But in the face of evolving threats, a growing online customer base and emerging mobile technology, what is the most effective...
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?
What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
Within the FFIEC Authentication Guidance, one provision - strong authentication - stands out as an opportunity to make security conveniently visible to customers. Join two banking security thought-leaders and a solution provider for insights on:
How to satisfy a crucial FFIEC mandate within the overall layered...
Since the summer of 2009, financial institutions and their corporate customers have been defrauded by increased incidents of account takeover. These incidents have pitted banks and customers against one another in court, and they were a key impetus behind the release of the new FFIEC Authentication Guidance. So, how...
Fraud is winning in the fight against cybercrime. Why? Because financial institutions continue to rely on ineffective technology and controls, says fraud analyst Tom Wills says.
Layered security is one of the core tenets of the new FFIEC Authentication Guidance - and it's perhaps the most effective strategy for detecting and preventing banking fraud schemes. But what are some of today's most mature approaches to layered security, and how are banking institutions employing them to detect and...
Today, financial institutions offering internet-based and mobile-banking services face increasing pressure to provide enhanced consumer protection against phishing, sophisticated malware and other fraudulent activities. The FFIEC's guidance for financial institutions took a strong stance in support of the deployment...
Anomaly detection and behavioral monitoring are minimum requirements or mitigating online risks, and the newly-issued supplement to the FFIEC Authentication Guidance highlights why banks and credit unions should be doing more, says Terry Austin of Guardian Analytics.
Now that the FFIEC's updated online authentication guidance is out, banking institutions need to move forward in preparation for 2012 compliance, says Julie McNelley, banking fraud analyst for Aite Group.
RSA customers who feel victimized by last March's breach of the security vendor's computers have viable options that include continued use of the SecurID authentication tokens, those offered by competitors, or something entirely different: biometrics.
For many, the lack of security on mobile devices is a major inhibitor to their adoption of mobile banking. As banks look to address these issues and capitalize on the opportunities of the mobile environment, they are also challenged by the need to bolster customer confidence in online banking. With Entrust's...
This TowerGroup Research Note addresses the growing issue of targeted attacks by
cybercriminals on business banking customers. As the sophistication of cybercriminal organizations has developed, they have begun attacking businesses with techniques such as phishing and "man in the middle" Trojan horses, techniques...
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