The bust of six Estonians for one of the biggest online frauds ever is reminiscent of another type of organized crime: drugs. Despite the similarities, there's one big difference between drugs and online crimes.
U.S. and Estonian authorities have broken up one of the largest Internet crime schemes that allegedly netted $14 million in fraudulent advertising fees and infected 4 million computers in 100 countries.
Mobile banking is a 'must-have' today, but the foray into this new financial-services arena comes with risk. Consistent review and implementation of security layers and controls is the only strategic way to tackle emerging mobile offers.
Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
Security concerns are the top barrier between consumers and mobile banking. Yet, only 17 percent of institutions have integrated consumer education into their mobile strategies. Javelin's Mary Monahan offers three tips to improve awareness.
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?
Improving mobile device security is one of the top information security priorities for the coming year, according to our new Healthcare Information Security Today survey. And that's not surprising, given the recent surge of interest in tablets, smart phones and other mobile devices.
In the near future, financial institutions will have new opportunities for service in emerging payments. How they define their roles, however, will depend greatly on steps they take now to put a stake in the ground.
Police say financial specialist Librado Wright spent months siphoning more than $500,000 from Wachovia Bank's customer accounts. But when he attempted to withdraw the funds, the bank had a surprise for him.
On Tuesday, Bank of America caved in to competitive and public pressure, reversing its decision to impose a fee for consumer debit transactions. So, now where will institutions find new revenue to help fight fraud?
Online risks, card skimming and data leakage are the top threats to Asia Pacific and Indian banks, and financial institutions are just starting to implement security measures and regulations to combat the growing threat landscape, says Gartner's Matthew Cheung.