On one hand, 60% of survey respondents rate their institutions as "above average" or "superior" when it comes to mitigating fraud. Yet, 55% say their customers and partners lack sufficient awareness to protect themselves from fraud. Appgate's Bryan Jardine analyzes the Faces of Fraud survey results.
The number of breach reports filed by U.S. organizations looks set to break records, as breaches tied to phishing, ransomware and supply chain attacks keep surging, the Identity Theft Resource Center warns. It says that there's also been a rise in tardy breach notifications containing little detail.
In the latest weekly update, four editors at Information Security Media Group discuss important cybersecurity issues, including why enterprises need a multilayered approach to securing identity, how fraud will evolve in 2022 and the need to secure backdoors to prevent ransomware attacks.
The White House is preparing executive branch agencies to adopt "zero trust" network architectures by 2024, with CISA and the OMB overseeing the creation of technology road maps that departments must follow. This is a major component of President Biden's cybersecurity executive order.
Investment banking giant Morgan Stanley is the latest company to report a data breach tied to zero-day attacks on Accellion's legacy File Transfer Appliance - yet another indicator of the sustained impact of supply chain attacks.
The Identity Theft Resource Center, a nationally recognized nonprofit organization established to support victims of identity crime, has published new research that shows nearly 30% of people who contact the ITRC are victims of more than one identity crime.
It is particularly challenging for financial institutions to catch authorized push payment fraud. But behavioral metrics can play a big role in detecting these incidents, says Steve Ledford of The Clearing House.
FBI agent Elvis Chan dedicated four years to election security, and he doesn’t hesitate to say: The 2020 presidential election was "the most secure election of my career." He explains why, and what lessons learned we can apply to future elections.
The COVID-19 pandemic has led to an uptick in financial crimes, a sudden rise in digital banking activities and resources working from home. As a result, the AML landscape has become more challenging for financial institutions and other AML-regulated entities.
How has the AML regulatory climate shifted most...
Preventing deepfake fraud while addressing customer digital onboarding ease-of-use concerns is a balancing act. Sanjay Gupta of Mitek discusses the challenge of juggling security and the user experience in digital banking.
To mitigate the fraud risks posed by synthetic IDs, banks should use consumers' devices to help with authentication, says Karen Boyer, vice president of financial crimes and fraud intelligence at People’s United Bank, based in Connecticut.
In financial services, there is a stark difference between defending against authorized versus unauthorized fraud incidents. James Hunt of Bottomline Technologies discusses the schemes and how to respond with a more dynamic prevention strategy.