Blog Posts Tagged with "FFIEC"

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One-Third of Banking Account Takeover Attempts Successful

August 20, 2012 Added by:Robert Siciliano

While less money was ultimately siphoned from banks and customers than in past years, there are new attack strategies on the horizon, which may push these numbers up in 2012. Threats, defenses, and vulnerabilities continually emerge, so stay tuned as we track the shifts in our evolving security landscape...

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How Does Your Bank Protect Your Data?

May 15, 2012 Added by:Robert Siciliano

Financial institutions have established a layered security approach that includes multi-factor authentication, as well as doing due diligence when it comes to identifying customers as real people whose identities haven’t been stolen...

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Duty to Authenticate Identity: Online Banking Breach Lawsuits

April 26, 2012 Added by:David Navetta

The attenuated nature of online relationships creates an opportunity for criminals to steal or spoof online identities and use them for monetary gain. The ability of one party to authenticate the identity of the other party in an online transaction is of key importance...

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Email Intrusions Facilitate Wire Transfers Overseas

January 30, 2012 Added by:Headlines

The FBI has observed a trend in which cyber criminals are compromising the e-mail accounts of U.S. individuals and businesses and using variations of the legitimate e-mail addresses associated with the victim accounts to request and authorize overseas transactions...

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Five FFIEC Compliance Tips For Banks

January 10, 2012 Added by:Robert Siciliano

“The guidance is an important reinforcement of several critical ideas: Fraud losses undermine faith in our financial system. Fraud tactics evolve constantly and the tools that combat them have to evolve as well. The guidance provides a perspective..."

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FFIEC Banking Security Guidelines In Effect Soon

January 05, 2012 Added by:Robert Siciliano

The FFIEC updated security guidelines go into effect in less than a month. It is imperative that financial institutions recognize that the security precautions currently in place are ineffective in the face of new, more sophisticated attacks...

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Chatting With An Auditor About Credit Union Compliance

December 16, 2011 Added by:Ed Moyle

Credit unions, by virtue of their regulatory context, have more "interpretive latitude" in how technical security controls get implemented. Meaning they should try on PCI compliance before calling out merchants - especially the big ones - for having it soft...

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Trust: A Rare Commodity Online

November 09, 2011 Added by:Robert Siciliano

Dishonesty poses a challenge to banks and retailers in the form of theft. Theft is a big problem on the Internet, and any online business knows that they can’t afford to trust you, regardless of how honest you may be. The FFIEC recently instructed retailers and banks to enhance their security...

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Javelin Study Shows Increased Credit Card Fraud Risk

November 01, 2011 Added by:Robert Siciliano

Not a week goes by when we don’t hear of another major breach affecting thousands or even millions of customer accounts. Criminal hackers are getting smarter and savvier all the time, and they often have better technology than the banks and retailers tasked with protecting your data...

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The FFIEC Wants You to Know...

September 23, 2011 Added by:Robert Siciliano

Consumers are oblivious to the layers of security put in place by financial institutions to protect their accounts. All consumers really care about are ease and convenience. A better understanding of what goes on behind the scenes can help consumers adapt to new technologies...

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Why Complex Device Identification Isn’t Enough

August 07, 2011 Added by:Robert Siciliano

“Complex device identification” is more sophisticated. This security technique relies on disposable, one-time cookies, and creates a complex digital fingerprint based on characteristics including PC configuration, Internet protocol addresses, and geolocation...

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The Benefits of Multifactor Authentication

August 02, 2011 Added by:Robert Siciliano

Specifically the FFIEC states: “Since virtually every authentication technique can be compromised, financial institutions should not rely solely on any single control for authorizing high risk transactions, but rather institute a system of layered security, as described herein...."

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