BITS, the technology policy division of The Financial Services Roundtable, has just named a new VP of cybersecurity and fraud prevention. What's John Carlson's mission, and what's it mean to banks?
Customers want to be involved with their banking security, but few institutions allow them to play active roles in fraud prevention. What has to change?
Bank of America, a pioneer in mobile banking, says mobile is hot, but it also opens financial institutions to unknown risks. What proactive steps should banks and credit unions take to ensure they're ready?
IEEE sees 2012 as a disruptive year of widespread mobile-device intrusions as a growing number of smartphones - now 20 percent of the market - make them an attractive target for hackers.
Banks and credit unions are feverishly working to meet the FFIEC's authentication compliance deadline next year. But experts say institutions should be looking beyond the guidance, by making investments in cross-channel fraud detection.
Roger Baker, CIO at the VA, says desktop computers will eventually phase out, as mobile devices become predominant channels for communication and work. That evolution has made plans for ongoing mobile security a priority for organizations that cross every business sector.
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.
"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.
"With a company-issued device, you can issue a policy that says users have no rights of privacy over information on the device," says Javelin's Tom Wills. But with employee-owned devices? A whole new set of issues.
Account takeovers are up, but losses are down. Doug Johnson of the ABA says that's because banks and their customers are catching and blocking suspect ACH transactions before they drains corporate accounts.
Banks and commercial customers are more often working together, enabling them to catch and stop fraudulent requests for funds transfers before commercial accounts are drained.
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.
Two electronic health records pioneers that already have earned federal EHR incentive payments stress that a robust risk management program should be an essential component of any movement from paper to electronic records.
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