It's ironic that Congressional Democrats and Republicans say they're willing to compromise on cybersecurity legislation. With so much else these days in Congress, compromise is not a 10-letter, but 4-letter word.
Account takeovers are up, but losses are down. Doug Johnson of the ABA says that's because banks and their customers are catching and blocking suspect ACH transactions before they drains corporate accounts.
International communication and public-private partnerships are the keys to cybersecurity in the financial space, according to the Department of Homeland Security and the Financial Services - Information Sharing and Analysis Center.
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."
A new report to Congress about major healthcare information breaches shows that federal officials have yet to complete their investigations of corrective actions taken in the wake of 70 percent of incidents.
"What banks need to be aware of is that much of this fraud is occurring on the consumer and business-customer side, and not all of them will invest in technology that catches these attacks," says Phil Blank of Javelin Strategy & Research.