BSA and AML compliance are priorities that never get pushed aside. So what steps are banks and credit unions taking to ensure they comply with regulators' demands?
"Everyone plays a role in protecting card data," says PCI Council head Bob Russo, offering the group's first public response to criticism from Verizon's new report on the state of PCI compliance.
Successful wire fraud attacks cause losses averaging between $100,000 to 200,000 per victim. So, it's not surprising that banks are being sued by business customers for alleged failures to prevent fraud via ACH.
BofA's announcement to charge customers for debit transactions is likely just the beginning, as banks across the U.S. react to debit interchange cuts that take effect Oct. 1.
Major breaches involving lost or stolen storage media point to the need to take better security precautions when storing massive amounts of patient information.
When it comes to mobile banking, which do you believe is the greater security risk: the latest evolution of malware or continued bad behavior by the end user? Experts' answers may surprise you.
BITS, the technology policy division of The Financial Services Roundtable, has just named Paul Smocer its new president. What are his strategies for tackling fraud, security and FFIEC compliance?
Discussing Verizon's new report on the state of PCI compliance, PCI expert Jen Mack says payment card security today is "disappointing," and global merchants are at serious risk of new data breaches.
Consumers say convenience outweighs risk when it comes to banking online. And the ABA's Nessa Feddis says online banking is actually more secure than most industry pundits suggest.
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.
As smartphone usage grows, so do emerging threats of mobile malware. When it comes to mobile banking security, financial institutions can only do so much. Security solutions will have to come from mobile vendors, says ENISA's Giles Hogben.
Mobile apps and smartphone security are increasing global concerns. But Dr. Giles Hogben of ENISA says mobile malware mania is a bit overhyped, since mobile is actually more secure than most other platforms currently on the market.
Mobile definitely has vulnerabilities that pose risks. But are our concerns about open-source platforms and the mainstream availability of downloadable mobile apps over-hyped?
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