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?
What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
By using federated digital credentials, the federal government has taken a significant step toward creating more efficiency to better serve the needs of the American people in the 21st century, Cybersecurity Coordinator Howard Schmidt 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.
News about recent healthcare information breaches offers an important reminder: Monitoring the privacy and security procedures of your business associates should be a vital component of any breach prevention strategy.
The Dutch company that was deceived by hackers into issuing fraudulent digital certificates is liquidating its assets under the protection of a bankruptcy court in the Netherlands after failing to recover from the attack.
Nessa Feddis of the ABA says increased investments in technology at the bank and consumer levels have fueled confidence in online banking. "I think the reason you see an uptick in use here is because the channel is more secure."
Whether you're preparing for the upcoming HIPAA compliance audits, pondering a move to cloud computing or developing a social media policy, it pays to get privacy and security tips from experts in the field.
Doug Johnson of the ABA and FS-ISAC says banks and commercial customers are improving efforts to catch and thwart incidents of corporate account takeover, a sign that the industry is moving in a positive payments direction.