"Okay, we have bad guys that might be in the system, but at least we're watching them every minute and hopefully detecting them before they do anything too bad," RSA Chief Technology Officer Bret Hartman says.
The Federal Financial Institutions Examination Council is expected to issue new security guidance that revisits online banking and strong authentication, according to industry experts who have been involved in recent meetings with the FFIEC.
From payment cards to checks, ACH transactions to phishing, there's no question that fraudsters have waged war on banks. And now the institutions are fighting back.
Has an alleged Stuxnet attack on Iranian nuclear facilities entered the realm of warfare? It may not be a cyberwar, as defined by many experts, but it sure feels like one.
"I am hoping for some turn around, but overhang in troubled real estate, unemployment and debt levels are negatives," says Christie Sciacca, former FDIC official.
When it comes to fraud prevention, things are going to be different in 2011. It's clear that fraud in the United States has reached a tipping point, and financial institutions are at the center of it all.
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