It's been nearly two years now since the corporate account takeover spree began. So, what exactly are the courts, institutions and the financial services industry doing today to prevent further incidents of fraud?
More questions than answers surround the Durbin amendment's future impact on fraud prevention. With all of these open questions, bankers aren't likely to face any significant changes anytime soon, says FICO's Mike Urban.
More than just Facebook friends, today's Chief Information Security Officer needs to connect and collaborate with key corporate allies who can influence the enterprise risk and security practices within any organization.
SWIFT's Gottfried Leibbrandt says conflicting regulatory mandates could further fragment the international payments market, if banks and governments don't align their strategies. Communication among governments, regulators and global financial institutions is critical.
India's data protection standards are already strong. But to be truly secure and world-class, then organizations must protect themselves above those standards, says Dr. Kamlesh Bajaj, CEO of the Data Security Council of India.
Experts say card issuers picked up on the Michaels card breach by employing strong transaction monitoring and behavioral analytics, proving that cross-channel detection tools are the best ways to curb growing card-fraud schemes.
ThreatMetrix's Taussig says strong authentication should be part of every financial institution's layered security approach. And according to expected changes to the Federal Financial Institutions Examination Council's 2005 online authentication guidance, that means proven measures to enhance device identification.
Michaels Stores Inc. says POS PIN pads at nearly 90 stores in 20 states were tampered with, exposing debit and credit cardholders to fraud. Now the chain says it is replacing PIN pads at the majority of its 964 U.S. stores.