According to our new survey, more than half of banking institutions expect an increase in fraud-fighting resources this year. But how are they investing those resources? The answers may surprise you.
"Regulation drives spending," says George Tubin of GT Advisors. "You're in a situation where the regulators are telling you, 'You have to do something; you have to make improvements.' Therefore, the bank has to spend some money on technology."
What might the Global Payments breach investigation entail? Dave Ostertag of Verizon's Investigative Response unit describes a forensics investigation - how long it can take and what it might reveal.
The cost of a data breach is down, say the latest Ponemon Institute study. But as the Global Payments breach shows, organizations still have many reasons to be concerned, says researcher Larry Ponemon.
Cloud services are being adopted increasingly by organizations. But with adoption comes increased concern, says Symantec's Francis deSouza. How can organizations deploy cloud security to protect their data?
The compromise of bank cards at two banks in New Zealand has garnered attention to the growing ATM fraud trend. What are the banks and law enforcement doing to address the losses?
"We are making significant progress in defining and rectifying the event," says Paul R. Garcia, CEO of Global Payments Inc., discussing the breach he says may have exposed 1.5 million payment cards.
"If they can do it against RSA, that makes most of the other companies vulnerable," says Army Gen. Keith Alexander, the military's Cyber Command commander and National Security Agency director.
Technology is only part of the solution. To truly combat phishing, banking institutions need to address a trickier part of the equation. They need to change human behavior. Here are experts' tips.
Payments processing firm Global Payments Inc. has confirmed its role in a data breach that could prove to be the largest such incident since the Heartland Payment Systems breach.
Cloud computing continues to be a hot topic for organizations, says Entrust's David Rockvam. What issues should be top-of-mind when using the cloud, and how can organizations ensure security?
While Microsoft's move to take down Zeus malware-related botnets is touted as a unique approach to fight financial fraud, some industry experts question its long-term viability. What are their concerns?
"Many financial institutions have watched for years as cybercrime has escalated, and now we are shutting it down," says Greg Garcia, describing Operation B71 and how it's helping combat ACH/wire and other forms of fraud.
Microsoft Corp. says it led a team that has successfully disrupted command and control servers used to run some of the world's most damaging variations of botnets proliferating the Zeus malware.
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