Fraud is a global concern, and an area regulators and financial institutions the world-over are watching closely, says Bill Isaac. Whether a cyberthreat or mortgage fraud, investments in fraud prevention will continue, despite the state of the international economy.
A new, free guide on Facebook security, though geared for users, details the practices chief information security officers and other organizational security practitioners should share with their staffs to assure not only safe Internet hygiene when workers access Facebook from work, but for use with other social media...
Ocean Bank failed to implement an effective BSA/AML Compliance Program, with internal controls "reasonably designed to detect and report money laundering and other suspicious activity in a timely manner," regulators say.
The PCI Security Standards Council's new guidance for tokenization offers clarification and recommendations for merchants struggling to determine which tokenization solution is best, especially where compliance with the Payment Card Industry Data Security Standard is concerned.
Former FDIC head Bill Isaac says U.S. banks have strengthened their financial footing since the market collapse of 2008, but the U.S. economy remains on the verge of a "double-dip" recession. The reason: poorly planned regulatory reforms.
The team at the European Network and Information Security Agency identified 50 security threats that exist within the new web standards and sent recommendations for how they should be addressed to W3C.
As banks and credit unions assess online risk, in light of the updated guidance from the FFIEC, financial fraud analyst Tom Wills says they should consider mobile as a viable layer for out-of-band authentication.
This $38 billion bank has invested a great deal of time and effort into its online security program, continuously conducting risk assessments and making strides to ensure commercial customers stay informed about evolving online-banking risks.
Australian authorities this week said two more arrests have been in connection with an international POS skimming scheme that targeted merchants in the United Kingdom, mainland Europe and North America. So far, 27 people have been charged.
Debit fraud and skimming are growing problems, and they're why California-based Fremont Bank is switching from mag-stripe to chip-based debit cards, says Chris Olson, the bank's chief operating and enterprise risk officer.