Improved collaboration and communication between small businesses and financial institutions is the first step toward improving online security, says Mark Patterson, an ACH fraud victim. What else would help?
U.S. and European institutions can learn from DBS Bank's example. In response to a rash of fraudulent withdrawals that cost accountholders $1 million, the bank is launching a new SMS/text alert service for ATM transactions.
Zappos was quick to communicate after discovering a data breach impacting 24 million customers. But did the online retailer respond appropriately, or make some missteps in its haste to notify? Francoise Gilbert of the IT Law Group gives a mixed review.
Cyberhackers are increasing their efforts to target online credentials. And phishing attacks waged against accountholders at Chase in the U.S. and Barclays in the U.K. have made it clear that banking accounts are the target.
Chinese police have detained four people and punished eight after the personal information of 6 million users was leaked following a data breach of the China Software Developer Network, the country's largest programmers' website.
Notifying patients about a healthcare information breach requires a "difficult balancing act" by entities to ensure that risks are not exaggerated, says attorney Robert Belfort, an expert in HIPAA compliance, fraud and abuse.