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Bank Technology News March 2011 Rebecca Sausner |
FFIEC to Revisit Online Protection Banks' security for online accounts hasn't kept pace with the threat landscape, regulators say, and sources say the FFIEC may soon update its 1995 guidance on securing online banking transactions. |
U.S. Banker February 2005 Michael Sisk |
A Phish Story Phishing attacks (in which thieves send mass e-mails supposedly from reputable businesses) are expected to more than double in 2005, and are spreading to small banks. |
Bank Technology News October 2009 Michael Sisk |
Wire Fraud's Growing Threat Just how big a problem wire fraud has become is a matter of some debate -- confusion fueled in part by banks' and businesses' reluctance to speak openly about it. |
Bank Technology News January 2009 Rebecca Sausner |
Banks Beef Up The Locks Many U.S. banks are now taking another look at their online authentication technology, and increasingly adding layers that involve out-of-band techniques and stronger fraud-detection engines. |
Bank Systems & Technology December 21, 2009 Nathan Conz |
Fraud: Social Media Heightens New Threats As fraudsters increasingly seek to exploit weaknesses in consumers' defenses through social engineering schemes rather than hack vulnerabilities in banks' security systems, the need for enterprisewide solutions to detect fraud across channels is greater than ever. |
Bank Technology News May 2009 Rebecca Sausner |
Phone Fraud Advances Biometrics Fighting external fraud has become like whack-a-mole; with the online channel increasingly secure, organized crime has taken to exploiting the weaknesses in the call center |
Bank Technology News November 2008 Rebecca Sausner |
New Methods to Bust Transaction-Level Fraud A 40 percent increase in the amount of ATM and debit fraud detected could probably pay for the technology investment behind it pretty quickly, given that debit fraud in the U.S. is a $1 billion -- and growing -- problem, with few solutions. |
Bank Systems & Technology July 23, 2010 Penny Crosman |
KeyCorp Building Analytic Tools to Prevent Fraud The company is starting a two-year project to create analytics that will find and address fraud in real time, before transactions are completed. |
InternetNews October 29, 2009 |
Two-Headed Trojan Targets Online Banks New Trojan uses "two-pronged payload" to swipe log-in information, steal electronic funds. |
Bank Technology News May 2010 John Adams |
Out of Band Finds Its Voice Against Hackers Institutions are ready to embrace new protections that take advantage of SMS, voice biometrics or secure browsers to further authenticate users and transactions. |
Wall Street & Technology March 18, 2008 Cory Levine |
Identity Fraud on the Decline Despite the hype, identity fraud is on the decline, according to a new survey. But as fraudsters return to traditional channels, such as phone lines, to steal the trusting public's personal information, few financial institutions have implemented multifactor authentication for telephone banking. |
Bank Technology News December 2007 |
Enterprise Fraud Management: HSBC Boosts Bottom Line with Anti-Fraud Tool Given the credit-market turmoil of late, tightening risk controls and deploying better risk analytics firmwide can only be a good thing for financial institutions. |
Bank Systems & Technology August 2, 2005 Phil Britt |
Fighting the New Face of Fraud Technology plays a critical role in banking fraud, both in creating new opportunities for fraud and offering new methods to defend against it. Financial services institutions must take a holistic approach to combating fraud. |
Bank Systems & Technology February 10, 2010 Penny Crosman |
ID Fraud Grew 12% in 2009, But Wells Fargo's Fraud Losses Are Down Javelin Research's latest fraud survey finds identity fraud continues to rise, but losses are down at some banks due to fraud detection technology improvements. |
Bank Technology News April 2005 John Adams |
The Cost of Doing Business The debate over multi-factor authentication for electronic transactions is growing louder, and many say industry-wide use is virtually inevitable for banks. So why is almost nobody doing it? |
Bank Technology News September 2010 Robin Arnfield |
Community Banks Tackle Anti-Fraud Tech Digital Resolve's Analysis Engine offers regional and community banks alerts about suspicious transactions every 10 minutes. |
Bank Systems & Technology October 30, 2007 Nancy Feig |
Banks Using Mobile Phone for Out-of-Band Authentication Amid increasing pressure to protect customers online, some of the largest global banks are turning to out-of-band authentication to fortify their Web banking services. |
Bank Technology News June 2004 Karen Krebsbach |
Firms Flirt with Out-of-Band Authentication Banks weigh whether this cumbersome technology is worth the bother for consumers, particularly for on-line banking. |
Bank Technology News September 2006 |
Homeland Insecurity One of the toughest battles for bankers may be in combating online security breaches and sophisticated money laundering schemes. |
Bank Technology News September 2010 Rebecca Sausner |
The FutureNow List 2010 The FutureNow List showcases the state of the art, and state of the bank security industry, in 2010. |
Bank Technology News August 2006 |
Sizing Up Security: Are U.S. Banks Trailing U.K. Banks? If best practices are indeed what the U.S. banking industry seeks with regard to online security, they'll likely find some of the answers across the pond. |
U.S. Banker July 2010 Rob Garver |
The Cost of Inaction Banks need to help protect commercial clients from online fraud, but face tech hurdles and resistance from clients themselves. Meanwhile, hackers lurk. |
Bank Systems & Technology July 28, 2006 Gregg Keizer |
Phishers Beat Citibank's Two-Factor Authentication Nearly three-dozen phishing Web sites have targeted Citibank business customers with a new scheme that circumvents two-factor authentication. |
Bank Systems & Technology June 26, 2006 Deena M. Amato-McCoy |
Closing the Door on Criminals Banks need a consistent approach to fraud assessment and prevention, otherwise they will never truly get ahead of the problem. |
Bank Systems & Technology May 5, 2007 Maria Bruno-Britz |
Fraud Techniques Evolve in Parallel with Bank Products and Defenses As fraudsters' techniques evolve alongside the products and services offered by financial institutions, new steps must be introduced to stop them. |
Bank Technology News August 2009 Craig Priess |
On the Backs Of Mules: An ACH Fraud Scheme Banks of all sizes should consider additional fraud prevention strategies to counter today's evolving threats. |
InternetNews October 24, 2005 Tim Gray |
Companies Bid for Authentication Compliance Work Financial institutions are getting started on security compliance regulations. |
Bank Systems & Technology September 30, 2006 Maria Bruno-Britz |
Zions, ING Pick RSA Risk-Based Authentication Solution Security solutions provider RSA saw its Adaptive Authentication solution implemented at Salt Lake City-based Zions Bank and ING Direct for the banks' online retail banking customers. |
Bank Systems & Technology April 7, 2006 Peggy Bresnick Kendler |
Security Outlook A plethora of high-profile data breaches and concerns about identity theft have put the banking industry on high alert. To secure their information assets, banks must implement a cross-channel, multilayered approach that extends beyond technology. |
Wall Street & Technology March 21, 2006 Paul Allen |
Add Another Bolt to the Cyber Door Due to enhanced and evolving cyber-threats, financial institutions now must implement some form of multifactor authentication or layered security to protect sensitive customer data. |
Bank Systems & Technology March 10, 2010 Penny Crosman |
Rise in Online Banking Fraud Costing Banks Customers, Study Says Ponemon Institute/Guardian Analytics study finds 40 percent of small and medium businesses change banks after a fraud incident. |
U.S. Banker December 2005 |
Authentication: FFIEC Commands Two-Factor ID by 2006 The Federal Financial Institutions Examination Council issued guidance requiring multi-factor authentication for on-line banking customers by the end of 2006. |
Bank Technology News November 2008 Maria Trombly |
Mobile Insecurity: Reality or Just hype? The increasing functionality and numbers of mobile banking platforms creates the potential for mobile banking security issues, but industry watchers have widely divergent opinions about how serious the threat really is. |
Bank Technology News September 2008 Anthony Malakian |
Budgets Inch Up The top priorities for bank security spending are fraud detection for money transfers and an AML system, followed by fraud detection for online banking. |
Bank Technology News August 2006 Glen Fest |
Choosing Authentication Solutions: Vetting Vendors, Soothing Customers Banks face tough choices today in building anti-fraud resiliency, from selecting providers to meeting user preferences. Will they be happy with those choices tomorrow? |
Bank Systems & Technology February 18, 2009 Ashfield & Shroyer |
Security Management: An Ongoing Challenge for Banks Banks face a difficult challenge in the area of security management. |
Bank Systems & Technology May 26, 2010 Matt Gunn |
Fiserv, PhoneFactor Partner For Phone-Based Multi-Factor Authentication Authentication services provider PhoneFactor and Fiserv announced a partnership that makes phone-based multi-factor authentication available through Fiserv's Corillian Online banking solution. |
Bank Systems & Technology August 27, 2009 Maria Bruno-Britz |
Evolving Fraud Schemes Keep Pressure on Evolving Payments Instruments While some of the latest schemes borrow from scams past, today's fraud schemes are as sophisticated as banks' most advanced payments systems. And stopping them is still a challenge. |
Bank Technology News December 2010 Rebecca Sausner |
ID Firms Put Lawyers On Speed Dial Will StrikeForce Technologies become the next Data Treasury filing suits against the industry's biggest banks and authentication vendors that it says are trampling all over its soon-to-be-issued patent on out-of-band authentication techniques? |
Bank Technology News October 2008 Rebecca Sausner |
Reconnaissance Leads To Multi-Channel Fraud A conversation with SecurityCurve's Diana Kelly about today's multi-channel fraud play and why online banking customers remain vulnerable to unauthorized access. |
Bank Technology News July 2005 Glen Fest |
Profiling: The DNA Of Fraud Rings ID Analytics spent two years studying criminals who traffic in fake and stolen IDs for attempted financial services fraud. It discovered the ways how they succeed-and how they don't. It isn't pretty. |
InternetNews March 3, 2006 Erin Joyce |
Neal Creighton, CEO, GeoTrust Digital certificate authority Neal Creighton sees a busy year dawning. The co-founder of GeoTrust explains why. |
Bank Technology News November 2009 Rebecca Sausner |
AML and Fraud Get Together Experts discuss trends in fraud and AML reporting, technology and regulation. |
Wall Street & Technology January 5, 2007 Larry Tabb |
Preparing for the Inevitable While electronic thefts can be cleaner, less physical and certainly less bloody, the chance of getting money out of a brokerage or bank illegally is usually greater with a gun than a computer. But as the criminals and terrorists get smarter, we too must raise the bar. |
Wall Street & Technology October 23, 2007 Melanie Rodier |
Financial Firms Continue to Struggle to Plug Security Loopholes New technologies, such as pattern analysis, as well as awareness and training can help financial services firms keep hackers at bay. |
Bank Systems & Technology October 28, 2004 Ivan Schneider |
No Static at All One-time passwords mitigate online banking security risks. |
Bank Technology News January 2011 Rebecca Sausner |
New Year, New Hacks? The new year is likely to bring more of the same when it comes to criminals siphoning funds from consumers and banks. |
Bank Systems & Technology November 1, 2006 Maria Bruno-Britz |
Bharosa Introduces Fraud Fighting Network Antifraud and authentication solutions provider Bharosa introduced the Bharosa Fraud Intelligence Network, an industry cooperative fraud detection network designed to help members attack fraud more proactively. |
InternetNews June 23, 2005 Roy Mark |
Confidence in E-Commerce Waning Gartner survey shows one of out three Internet users buying less online, largely because of concerns over data security. |
Bank Technology News June 1, 2008 Rebecca Sausner |
SocGen Loss Lights a Fire Under Execs Financial services firms around the globe are now scrambling to examine their employee fraud detection processes and practices, and turning to the handful of tech vendors in the space to bring them up to speed. |