ACH/Wire fraud was the big story in 2010 and helped influence the updated FFIEC Authentication Guidance. So, have incidents of corporate account takeover decreased in 2011, or are we just hearing less about them?
As 2012 nears and federal regulators prepare to examine financial institutions for conformance with the FFIEC Authentication Guidance, just how prepared are banks and credit unions? The answer may surprise you.
Despite the FFIEC authentication guidance and the growth of online fraud, financial institutions still rely on outdated practices that expose customers to risk. How can institutions update their security measures?
In their efforts to conform with the FFIEC authentication guidance, many financial institutions are caught off-guard by the overall cost of enhanced detection and authentication for online banking. Why?
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?
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.