With the Federal Trade Commission estimating that American’s lost $1.48 billion to phishing scams in 2018, ABA Vice Chairman Scott Anderson, president and CEO of Zions Bank, urged consumers to be vigilant and protect themselves when browsing online.
With Cybersecurity Awareness Month coming up in October, ABA and banks nationwide are preparing to launch the largest consumer education campaign in ABA’s history: #BanksNeverAskThat.
Cybersecurity in the financial sector is becoming more integrated with the IT functions, according to a survey of chief information security officers released recently by Deloitte and the Financial Services Information Sharing and Analysis Center.
As consumer expectations expand to include an anywhere, anytime, any-device type of mindset, multichannel support and interactive communication features become increasingly important.
The Financial Crimes Enforcement Network today warned financial institutions about a recent high-profile scam through which fraudsters exploit prominent Twitter accounts to solicit virtual currency payments from victims.
The Commodity Futures Trading Commission today highlighted a number of available standardized tools that derivatives markets, clearing organizations and swap data repositories could use to assess and improve their level of cybersecurity preparedness.
The Financial Crimes Enforcement Network today issued an advisory alerting financial institutions to imposter scams and money mule schemes connected to the coronavirus pandemic.
Risk.net, a prominent digital publication focused on operational risk news and analysis, today awarded its 2020 Industry Initiative Award to the American Bankers Association and MSTAR, for their pilot program for operations risk modeling.
Financial institutions will need to break out of old paradigms and adopt improved information sharing strategies that enable more efficient criminal investigations.