Too many banks and credit unions are being narrow-minded in their approaches to FFIEC Authentication Guidance conformance, by focusing on commercial accounts and neglecting retail accounts, one ACH fraud attorney says.
International law enforcement agencies last week touted the takedown of 36 websites that were used to sell stolen debit and credit data for more than 2.5 million accounts. But how much of an impact will the takedown ultimately have on card fraud?
Partisan bickering surrounding a bill aimed at protecting the nation's critical IT infrastructure is the likely reason the measure will not come up for a vote in the lower chamber this week, as representatives debate four other cybersecurity bills.
How will Diane Ness and BITS help banks reduce fraud? As the new head of fraud-reduction programs for the technology division of the Financial Services Roundtable, Ness says education and communication about emerging threats will be a priority.
One problem tracking IT security employment is the dearth of information. Even the most trustworthy organization in collecting employment data, the Bureau of Labor Statistics, furnishes infosec data it cautions aren't reliable.