ATM skimming busts are wins for law enforcement. But how well would banking institutions detect the fraud if their customers weren't doing such good jobs of reporting these incidents?
Phishing schemes, like the one claiming to be from the Better Business Bureau, target consumers who have concerns about troubled accounts or account breaches. And social engineering is used more often to acquire financial and personal information.
BITS president Paul Smocer says banks can expect an uptick in cybersecurity-focused legislation in 2012. What impact will changes from Capitol Hill have on requirements for data breach notification, information sharing and critical infrastructure?
Authorities in New York have indicted 28 suspects for their alleged connection to a skimming scheme that targeted AmEx cardholders. What did the take-down expose about growing innovations in insider fraud?
How did fraud specialists at Chase successfully thwart an alleged ATM skimming scheme that impacted 1,500 customers? The bank's fraud-detection efforts draw praise from Gartner's Avivah Litan.
Two years after his business was a victim of ACH fraud, PATCO's Mark Patterson doubts whether most small business owners are yet aware of the risks they face. And he doesn't think the FFIEC guidance will help.
ACH fraud victim Mark Patterson says small businesses like his welcome improved online security measures from banking institutions. But is the new FFIEC Authentication Guidance sufficient? Patterson says no.
A warning issued this week by the OCC about a fake banking website highlights the need for stronger domain-naming practices, especially in the financial space.
Banks and credit unions are feverishly working to meet the FFIEC's authentication compliance deadline next year. But experts say institutions should be looking beyond the guidance, by making investments in cross-channel fraud detection.
Banks, government agencies and healthcare providers have upped their efforts to assist consumers after an ID theft incident. But much more needs to be done. One ID-theft recovery expert shares her thoughts about areas in need of improvement.
Analog skimming devices that rely on audio technology are not new. They've been around since the early 1990s. But this less-expensive technology is making a comeback, some say, because of the downturn in the global economy.
Pradeep Moudgal says the U.S. is migrating toward EMV. But how much new investment are card issuers going to have to make, and what steps does the collective industry need to take to ensure the transition from the mag-stripe to the chip is a smooth one?
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.
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