With the recent release of the new online authentication guidance, the Federal Financial Institutions Examination Council (FFIEC) directs banking institutions to provide a more air-tight defense against risks to their networks and customers.
The barrage of recent high-profile data breaches confirms what experts...
ThreatMetrix's Taussig says device identification must be part of layered security measures. Banking regulators want financial institutions to deploy multiple layers of online security. But what does that expectation mean when it comes to investments in fraud detection?
Bankers aren't waiting for the FFIEC to act on the release of its updated online authentication. Instead, they've already begun to comply with the major points recommended in the draft. And the death of Osama bin Laden has heightened concerns terrorists' efforts to launder money through legitimate banking channels.
Tips for Preventing Fraud and Complying With FFIEC Guidance
The onslaught of ACH/wire fraud incidents confirms what the researchers have long said: We're in a new wave of malicious code. This new wave is run by organized crime, and it's focused on one objective: Stealing personally identifiable information and...
Gigi Hyland of the NCUA says the latest draft of online authentication guidance is awaiting final signoff from just one FFIEC member agency. And Verizon's new data breach report finds that compromised records resulting from data breaches dropped dramatically in 2010, but the number of breaches continues to grow.
Gigi Hyland of the NCUA says the latest draft of online authentication guidance is awaiting final signoff from just one FFIEC member agency. And Verizon's new data breach report finds that compromised records resulting from data breaches dropped dramatically in 2010, but the number of breaches continues to grow.
Most small businesses don't understand online fraud risks, but greater communication between banks and commercial customers plays a key role in fraud deterrence and customer-relationship health.
It's been over three months since the accidental disclosure. When will the final FFIEC authentication update be released? "I don't think we're any less safe," says Gartner's Avivah Litan. "We just need to step up enforcements."
Gigi Hyland, board member of the National Credit Union Administration, says the latest draft of authentication guidance is awaiting final signoff from just one member agency of the Federal Financial Institutions Examination Council.
New authentication guidance, when it is passed down federal banking regulators, needs to pay more attention to mobile, says former Bank of America executive David Shroyer.
Since the FFIEC guidance in 2005 on "Authentication in an Internet Banking Environment" cybercriminals have evolved significantly, leading the FFIEC to release new guidance for protecting your business and your customers from fraud. Learn about smart device identification technologies banks will need to adopt to...
Mobile devices have forced a radical shift in the way organizations service their customers. Financial institutions are no exception to the pressure of extending their online services to the mobile channel. By 2015 mobile banking could reach one in five adults in the United States. But the growth in mobile devices has...
Ben Knieff, who oversees fraud prevention strategy for NICE Actimize, says most small businesses don't understand online fraud risks, but they are willing to work with banks to mitigate losses.
Pay-at-the-pump card skimming is back, just in time for spring break; and Editorial Director Tom Field shares thoughts from Phoenix about BAI's recent Payments Connect conference.
Pay-at-the-pump card skimming is back, just in time for spring break; and Editorial Director Tom Field shares thoughts from Phoenix about BAI's recent Payments Connect conference.
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