New Account Fraud Creates Friction for Banks
As account opening goes digital, fraudsters follow. It takes multilayered analysis of divergent data to keep up with them.
Browsing: Cybersecurity
What Compliance Needs to Know in the Event of a Security Breach
When a breach occurs, a bank’s compliance unit can be a valuable resource to help execute the incident response plan. Here’s how.
FFIEC Statement Supports Industry-Developed Cybersecurity Profile
In a statement today, the Federal Financial Institutions Examination Council highlighted a number of available standardized tools institutions can take advantage of to assess and improve their level of cybersecurity preparedness.
ABA White Paper Highlights Pros and Cons of Security Ratings
With several providers now offering security ratings—also known as risk scores or risk ratings—as a way to measure an organization’s level of cybersecurity, a new white paper by the American Bankers Association examines the pros and cons of these ratings systems and how they should be used by financial institutions.
Rep. McHenry Calls for Hearing on Cybersecurity, Data Protection
In a letter to House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) today, Ranking Member Patrick McHenry (R-N.C.) today called for a hearing on cybersecurity and data protection in the financial services sector in response to concerns raised by industry leaders and recent data breaches.
Trade Associations Weigh In on Changes to FTC’s Safeguards Rule
As the Federal Trading Commission considers making changes to its existing standards for safeguarding customer information, ABA last week joined two other industry groups in a comment letter urging the commission to harmonize the changes with existing data protection rules.
‘If It’s Not .bank, It’s Not My Bank’
With .bank URLs, banks are reclaiming their email channels from the fear of phishing as a trusted space to communicate internally and with their customers.
Podcast: Enterprise Risk Management in a Growing Midsize Bank
Midsize banks are at an inflection point: their ranks are growing as banking sector consolidation continues, and while these banks are ramping up their risk and compliance functions, they don’t need the same kinds of programs as the largest banks.
Fed White Paper Looks at Synthetic Identity Payments Fraud
In a white paper released yesterday, the Federal Reserve System documented the current state of synthetic identity fraud and its effects on the payments industry.
Are You Choosing Fintech—or Is Fintech Choosing You?
Risk management and compliance considerations along the path of banking innovation.