Call center fraud is one of the leading threats that financial institutions will battle next year because fraudsters consider the centers to be an easy target. But what can be done to mitigate this threat?
While U.S. payments networks and card issuers are planning to transition to EMV cards, Gartner analyst Anton Chuvakin says they could be wasting their time. It may be too late for this chip technology in the U.S.
As U.S. banking institutions make the EMV migration, fraud will migrate from payments cards to areas such as check and first-party fraud, says Fiserv's Mike Urban. How must institutions prepare?
In the wake of a surge of lawsuits, bipartisan Congressional support is building for a measure designed to help protect banking institutions from frivolous patent infringement claims, says NAFCU's Brad Thaler.
The financial services industry will make wider use of data analytics next year as the value of leveraging big data to help prevent or detect fraud becomes more clear, experts predict.
Wayne Dunn, CTO of HarborOne Bank in New England, says improving vendor management is a top security priority for institutions in 2014. As more core banking functions are outsourced, due diligence becomes increasingly critical.
Federal investigators announced five more arrests this week in connection with a $45 million ATM cash-out and prepaid card fraud scheme. Learn why experts expect these types of crimes to become even more common.
For risk managers, an often overlooked step for minimizing supply chain risks is to continually monitor outsourcers and other third parties to address critical security issues, says the Information Security Forum's Steve Durbin.
The breach of a card loyalty marketing company has reignited discussions about the roles banking institutions, regulators and others play when it comes to mitigating third-party risks. Where should the buck stop?
The breach of a card loyalty marketing company that exposed card data and other personally identifiable information illustrates the privacy vulnerabilities third parties pose, experts say.
The Office of the Comptroller of the Currency is the first major U.S. banking regulator to issue updated guidance on third-party risks. What are the key tenets, and what should institutions expect next?
Organizations should make sure their business continuity plans address all key business processes and customer-facing applications, says Dan Shannon of core processor Fidelity Information Services.
In the wake of an ongoing stream of merchant and payment processing breaches, the FDIC is reminding smaller banking institutions that they are ultimately responsible for ensuring the security of cardholder data.
Comptroller of the Currency Thomas Curry's comments in a Sept. 18 speech could be an early indication that regulators will put more pressure on banks and service providers to fill cybersecurity gaps, some observers say.
The FDIC is urging banking institutions to pay more attention to vendor management in light of recent breaches, such as one that compromised core processor Fidelity National Information Services.
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