Preliminary results of the 2013 Faces of Fraud Survey show institutions are still suffering big financial losses linked to ACH and wire fraud. Why are they still getting hit, in spite of investments to detect and prevent account takeover?
Addressing cyber-attacks is not just a technology issue. It requires a holistic view from the entire organization, says ISACA's Jeff Spivey, who emphasizes the need for a framework approach to security.
Electronic banking fraud is as rampant as ever because of the failure to address one of the core problems, says security specialist Tom Wills, who describes why focusing only on technology to defeat Trojans will never work.
Cyberthreats, including distributed-denial-of-service attacks, are growing worldwide. So FS-ISAC is expanding its information sharing efforts internationally to help financial institutions counter the threats, says Bill Nelson, the organization's president.
If everyone supports the idea of sharing cyberthreat information, then why is information sharing so difficult? Shawn Henry, a former investigator with the FBI, tells how organizations can clear their biggest hurdles.