An insurer has dropped its lawsuit aimed at avoiding covering damages suffered in the Schnucks retail breach. But attorney Dan Mitchell says this case shows why more companies need cyber-insurance.
Our inaugural Fraud Summit on Oct. 22 at the Meadowlands in New Jersey will feature an impressive lineup of information security leaders offering timely insights about practical risk mitigation strategies.
Banking institutions and merchants are fighting back against cyber-attacks by sharing information and assisting law enforcement investigations, says Julie Conroy of Aite, which has issued a report about account takeover and cyberfraud trends.
Face-to-face and over-the-phone social-engineering schemes are increasingly used to perpetrate fraud, highlighting the need for more education and real-time transaction monitoring, says Gartner's Avivah Litan.
Despite the recent lull in al-Qassam Cyber Fighters' DDoS attacks against U.S. banks, the ABA's Doug Johnson and FS-ISAC's Bill Nelson warn banks to avoid complacency, noting that DDoS attacks pose an ongoing threat.
Knowledge-based authentication is no longer reliable, says fraud expert Avivah Litan, an analyst at Gartner. She explains why so-called behavioral authentication is the only reliable way to verify users.
The Fraud Summit, to be held Oct. 22, will provide timely insights on top trends and strategies for mitigating risk. A keynote address will offer a close look at Chase Bank's anti-fraud strategies.
How are organizations addressing fraud, cyberthreats?
66% of respondents say credit/debit card fraud is most common form of fraud.
62% say fraud incidents are still discovered not by institutions, but by customers.
55% say their biggest barrier to fraud prevention is simply customer awareness.
These are...
In the wake of a year of attacks waged against banking institutions by Izz ad-Din al-Qassam Cyber Fighters, the FS-ISAC's Bill Nelson and the ABA's Doug Johnson say the need to regularly update DDoS preparedness is a critical lesson learned.
As security professionals in other business sectors prepare for potential DDoS attacks, here are three important lessons they can learn from the successful defenses in the financial services industry.
Account takeover techniques are getting more sophisticated; new "account checkers" are helping hackers automate their processes. The trend is just one more reason why we need advanced forms of authentication.
Because mobile payments are so new, banking institutions worldwide are still trying to understand which threats to address first, says payments fraud expert Neira Jones.
How is one of the nation's top 20 bank holding companies fighting fraud? Find out directly from Matthew Speare, Senior Vice President of Information Technology for M&T Bank Corporation, as he spends an hour taking your questions about a variety of banking fraud topics, including:
Account takeover trends and the...
Distributed-denial-of-service attacks pose a persistent, genuine threat to all sectors. That's why we've created the DDoS Resource Center to fill the information gaps.
Another organized cyber-attack and subsequent cash-out scheme illustrates increasing risks to the U.S. payments chain. One fraud expert says this trend "is of grave concern" for banking institutions and their accountholders.
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