An important lesson to learn from the massive JPMorgan Chase breach is that banks can't just focus on protecting card data and online banking accounts; they also must protect their customers' personally identifiable information.
European financial services firms and law enforcement agencies have been stepping up their efforts to trade actionable intelligence and better defend themselves against emerging malware and fraud campaigns.
Fraudsters continue to make inroads against financial institutions based in the United Kingdom - and beyond - because banks aren't working together to share information about the attacks they see, according to presenters at the London Fraud Summit.
A Twitter chat featuring Gartner's Avivah Litan offered a lively discussion of numerous fraud-related issues, including card breaches, weak authentication and the need for mobile scrutiny. We'll host more chats soon.
Initial reports suggested that Russian hackers could behind an attack against JPMorgan Chase, and perhaps other U.S. banks. While it's still far from clear who the culprits are, experts discuss the potential hacking motivations of a nation-state.
A new impersonation scheme is taking aim at business executives to perpetuate ACH and wire fraud, says Bank of the West's David Pollino, who explains steps institutions should take now to protect their customers.