The FFIEC has issued notices spelling out its expectations for the steps that financial institutions should take to mitigate risks posed by ATM cash-out schemes and the continued DDoS attacks on public-facing websites.
Seventeen individuals are facing charges for their alleged roles in an international ATM skimming and money laundering scheme. The indictments of multiple individuals for a low fraud amount is encouraging, experts say.
A review of the RSA 2014 agenda shows several seminars, panels and speakers of particular interest to healthcare-focused attendees, including those focused on mobile device security and medical device hacks.
A recent ATM fraud scheme that targeted banks in three states illustrates just how sophisticated ATM attacks have become, experts say. Learn how fraudsters are increasingly keeping their skimming schemes concealed.
ATM-related fraud is increasing in the United States, and experts say losses will continue to grow until the market achieves widespread adoption of cards using EMV chip technology and phases out magnetic-stripe cards.
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.
How could global fraudsters steal $45 million from banking institutions without being detected or stopped? It was a process breakdown, not a technology failure, says fraud expert Avivah Litan of Gartner.
Authorities have shuttered a digital currency service allegedly used to launder funds stolen in a $45 million ATM cash-out scheme exposed earlier this month. Learn why experts say lax laws paved the way for the fraud.